Troubled Central European property developer Orco is offering its bondholders a debt-for-equity swap as part of its restructuring plan. The company, which was granted protection from its creditors by a Paris court last March, is proposing that the creditors exchange their bonds worth EUR 411 mln for a mix of new bonds due in 2017 and bonds that may be converted at a later date into shares.
Westland Shopping Centre in the Brussels neighbourhood of Anderlecht may be up for sale, according to Belgian media reports.
