Alpargatas APE approval draws three appeals

By Caroline Salls

Pittsburgh, July 20 - Alpargatas SAIC has been informed of three appeals in connection with approval of its acuerdo preventivo extrajudicial, according to a company news release.

The company said the appeals are without merit.

Approval for the APE was received on July 7.

Debt covered is Alpargatas' series B bonds due March 15, 2010, series A bonds due March 15, 2015, 9% convertible bonds due March 15, 1998, 11¾% series 10 bonds due Aug. 18, 1998, 12¾% bonds due July 30, 2003, promissory notes due April 21, 1998, promissory notes due June 8, 1998 and promissory notes due Aug. 13, 1998

Alpargatas is a footwear and textiles manufacturer and retailer based in Buenos Aires, Argentina.

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