Avanzit to issue €60 million convertibles in first-quarter 2006

By Caroline Salls

Pittsburgh, Oct. 31 - Avanzit SA plans to issue up €60 million of convertible bonds in the first quarter of 2006 under its strategic financial plan, according to a company news release.

The company said it will issue the convertibles in an effort to cancel debt accumulated after a suspension of payments last year.

Avanzit is a Madrid, Spain-based group with principal activities in the telecommunications, energy, transportation and technologies sectors in Portugal, Morocco, Mexico, Guatemala, El Salvador, Argentina, Chile, Peru, Brazil and Jamaica.

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