Mexico’s Invercap gets waiver for covenant breach under 16%, 18% notes

By Wendy Van Sickle

Columbus, Ohio, Dec. 30 – Invercap Holdings, SAPI de CV said noteholders agreed to waive debt covenants for its $63,062,000 16% series 1 senior notes due 2016 and its $129,987,000 18% series 2 senior notes due 2016.

Noteholders agreed to waive the required debt service ratio for the fiscal quarter ending Dec. 31, according to a press release by the Mexico-based company.

The Bank of New York Mellon is the fiscal agent, and the Bank of New York Mellon, London Branch is the paying agent.

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