Argentina's Impsa's class III noteholders to vote on changes May 30

By Caroline Salls

Pittsburgh, May 13 - Industrias Metalurgicas Pescarmona SAIC y F (Impsa) will hold a meeting of class III noteholders on May 30 to modify the terms of the notes, according to a company news release.

Specifically, the noteholders are being asked to change terms related to limits on liens, debt, restricted payments, subsidiary debt and dividends and other payment restrictions on restricted subsidiaries as well as limits on asset sales and the sale or issuance of capital stock of restricted subsidiaries.

The proposed changes also include changes to the definitions of special preferred shares, EBITDA, disposal of assets, debt by refinancing, ratio of total debt to EBITDA, permitted investments, investment interim cash, sale and rental operation interactive, subsidiary finance, unrestricted and restricted subsidiary.

The changes would also include definitions of refinance and corporate reorganization.

Impsa is a Mendoza, Argentina-based producer of wind and hydropower equipment.

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