CANADA: Clearly Canadian restructures debt
By: just-food.com | 23 February 2009
Clearly Canadian has said that it plans to restructure its debt.
The alternative beverage and organic food group has suspended interest payments on its senior convertible notes in the amount of US$9.36m and its subordinated convertible notes in the amount of C$2.45m.
In a statement the company said it has received an Event of Default notice from one of the senior convertible note holders and the company intends to enter into negotiations with all of its note holders to restructure the debt.
Sectors: Baby food, Chilled foods, Natural & organic
Companies: Clearly Canadian
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