Procaps Group SA Says Some Units Entered Forbearance Agreements With Creditors In Respect Of About $195M In Financial Indebtedness; Under Agreements, Creditors Party Agreed To Forbear From Exercising Any Of Their Rights & Remedies During Forbearance Period
Portfolio Pulse from Benzinga Newsdesk
Procaps Group SA has announced that some of its units have entered into forbearance agreements with creditors concerning approximately $195 million in financial indebtedness. These agreements prevent creditors from exercising their rights and remedies during the forbearance period.
August 26, 2024 | 1:38 pm
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Procaps Group SA has entered into forbearance agreements with creditors for $195 million in debt, temporarily preventing creditors from taking action.
The forbearance agreements indicate financial distress, as they are used to prevent creditors from taking action on debt. This could negatively impact investor sentiment and the stock price in the short term.
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