Argentina's Mastellone Hermanos reveals long-term debt restructuring

By Caroline Salls

Pittsburgh, Dec. 21 - Mastellone Hermanos SA has launched a restructuring of its long-term debt, according to a company news release.

Under the terms of the debt restructuring, the company will exchange its variable-rate debt due 2011, notes due 2012 and fixed-rate debt due 2013 for a combination of cash and new debt.

As a result of the restructuring, Mastellone Hermanos said it will not make the payments due Dec. 31 on the debt in question.

Mastellone Hermanos is a Buenos Aires food company.

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