Enjoy presented the plan as a consensus program, which in addition to new conditions for the payment of the debt, proposes obtaining new financing with which to cover the obligations accumulated in 2020, in addition to part of 2021, the year in which they hope to be operating again.
"We have absolute confidence that this plan leaves the company with a solid financial structure for its future development, allowing it to maximize opportunities for recovery and value generation," said the company's general manager, Rodrigo Larraín, in a meeting with investors.
According to what the company presented to investors, the focus is Enjoy's effective operational continuity, aiming at the profitability of current assets and the generation of flows. In addition, according to the company, it is a conservative program, which has high chances of being met.
Added to this is that Enjoy will be left with a much lighter financial structure and with room for more challenging scenarios, opening options for new funds for the sale and rental of real estate (in Antofagasta, Rinconada, Coquimbo and Pucón).
In terms of financing, the proposal includes new bonds guaranteed by US$ 210 million, seven years and with increasing quarterly interest over time. The company is obligated to make prepayments if it sells guaranteed assets. Of this group, priority will be given, in the case of prepayments or liquidation, to those who participate in the financing process.
"It has been a complex process, in which we appreciate the understanding, disposition and will of the different parties that allow reaching an adequate and balanced agreement for all," Larraín concluded.
Source: La Tercera (Chile)