Murano Global exchange offer leaves 0.33% of US$ 303 million 11% notes outstanding unsecured
MRNO•Indenture amendments removed protections
The issuer trust executed amendments on Aug. 4 that stripped substantially all restrictive covenants and events of default from the Existing Notes indenture.
The changes also released the security interests and guarantees that had secured the Existing Notes, leaving remaining holders with unsecured, unguaranteed obligations.
Exchange offer leaves a small remainder outstanding
Murano Global Investments’ issuer trust closed an exchange offer for its US$ 303 million 11.000% Senior Secured Notes due 2031, leaving about 0.33% of the issue outstanding.
Eligible holders tendered US$ 301.99 million (about 99.67%), with no additional notes submitted by the Aug. 11 expiration.
