Argentina's IRSA repays $12 million of bank loan

By Reshmi Basu

New York, March 18 - Inversiones y Representaciones SA said it repaid $12.0 million of its unsecured loan due November 2009 to HSBC Bank plc, according to a news release.

The Buenos Aires real estate company paid $8.6 million, receiving a $3.4 million discount under the $51 million unsecured loan.

Cash from warrants exercised since Dec. 31 was used to repay the loan.

The paydown is part of the Buenos Aires-based real estate, shopping center and hotel company's restructuring strategy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.