Comerci's restructure plan eyes debt cut, guarantee
MEXICO CITY, June 28 (Reuters) - Troubled Mexican retailer Comercial Mexicana offered to pay a $950 million chunk of debt over seven years and use noncore assets to guarantee another $500 million it owes, a source close to the talks told Reuters on Thursday.
The latest proposal from the company, known as Comerci (COMEUBC.MX: Quote, Profile, Research), was submitted to all its creditors last week. On Wednesday, the company won two more weeks, until June 10, to negotiate a restructure of its debt, which creditors say is more than $2 billion. (Reporting by Cyntia Barrera Diaz)
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