An exchange of Negotiable Bonds stirs up emotions among creditors of the citrus company San Miguel: It involves "kicking out"

At this hour, the recent announcement of debt exchange by the citrus company San Miguel is stirring discontent among the more atomistic creditors. The Tucuman firm, which is one of the world's leading lemon exporters and is heavily investing in the production of derivatives - such as essential oils and juices - has just announced that it will exchange a portion of its negotiable obligations - due in October of next year - for others with a 4-year term and a lower interest rate. The offer, which was published through official channels and on the company's own website, means, outright, "kicking" the maturities to 2030 and lowering their yield, which goes from a rate of 9.5% to 8% annually. This is what has caused anger within the market, where some directly label it as "ruinous" and claim that, when the company is doing well, it decides to "turn its back" on its investors. The debt restructuring affects negotiable obligations series X, XI, and XII, for up to $120 million in total, ...