Vitro has reported the successful conclusion of its previously announced solicitation of consent from holders of its Senior Limited Recourse Notes due 20 December 2018, which will: “…enable us to reduce our leverage ratio level, strengthening our balance sheet”.

As of 5:00 p.m., New York City time, on 29 January 2015, the company had received consent from holders that represent a majority in the principal amount of the outstanding Credit Linked Notes to the waivers of certain covenants under the Senior Notes relating to Vitro’s ability to incur or permit liens, debt and capital expenditures and enter into certain hedging agreements. As a result, the company and the issuer of the Credit Linked Notes executed the documentation to affect such waivers. Those waivers would align the Senior Notes with three business expansion projects that are expected to be implemented in the near future.
Adrián Sada Cueva, Chief Executive Officer commented: “We are glad that we received this consent because it represents the confidence of our creditors in Vitro’s sustainable growth plan. We expect that the execution of this plan will improve the generation of cash flows and as a consequence in the future it will enable us to reduce our leverage ratio level, strengthening our balance sheet”.