(Reuters) - The buyout group offered $610 million for a 90 percent
stake, valuing Doral at 63 cents per share. Proceeds from the
buyout are to be used to help Doral repay $625 million of debt
due on July 20.
San Juan-based Doral expects the transaction to close on
July 19. It has said it would likely seek bankruptcy protection
if it did not close by the following day.
Read more at Reuters.com Bonds News
stake, valuing Doral at 63 cents per share. Proceeds from the
buyout are to be used to help Doral repay $625 million of debt
due on July 20.
San Juan-based Doral expects the transaction to close on
July 19. It has said it would likely seek bankruptcy protection
if it did not close by the following day.
Read more at Reuters.com Bonds News
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