SPX takes leading role in Americanas bondholder group

Brazilian hedge fund manager SPX Capital is taking a leading role alongside other asset management firms in restructuring negotiations on behalf of a group of investors holding local bonds of troubled retailer Americanas SA, according to a report by Bloomberg.

Minutes for a bondholders group meeting held on 6 February confirm that SPX, along with XP Asset Management, Riza, Icatu Vanguarda, Prada, Moneda and Exes has been appointed to a committee that will represent a group of holders of the firm’s domestic debt. The group has also appointed law firm E Munhoz Advogados as its legal adviser. 

Americanas filed for bankruptcy protection last month, just days after finding BRL20 billion ($3.9 billion) of “accounting inconsistencies” that artificially boosted its profits and reduced reported liabilities.