Mexico-based Urbi’s URBI 11 bonds redeemed early, Ps. 662 million owed

By Caroline Salls

Pittsburgh, July 24 – Urbi Desarrollos Urbanos, SAB de CV is required to pay Ps. 662 million after a July 15 early redemption of its URBI 11 bond issue, according to a news release.

The Ps. 662 million includes unpaid principal and interest on the certificates.

In the absence of immediate payment, default interest will accrue.

The company said it is continuing to make progress with its restructuring proposal.

Urbi is a homebuilder based in Mexicali, Mexico.

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