BRIEF-Altos Hornos to issue 113.5 mln shares to exchange for debt

viernes 27 de mayo de 2016 09:24 GYT

May 27 (Reuters) - Altos Hornos de Mexico SAB de CV :

* Said on Thursday judge recognised payment rights related to 16.26 billion Mexican pesos ($879.08 million) in insolvency proceedings which were resolved May 16

* Estimates that holders of 10.73 billion Mexican pesos of these payment rights agreed to exchange 69.15 percent of debt for shares of Altos Hornos and cash payment in US dollars

* To swap each 1 million Mexican pesos of payment rights for 15,303.85 ordinary shares and $2,735.55 cash

* As a result company issued 8.85 billion Mexican pesos in payment rights, 113.5 million ordinary shares and $20.3 million in cash

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($1 = 18.4966 Mexican pesos) (Gdynia Newsroom)