Desmet Schedules Call to Unveil Plan

Mexican homebuilder Desalloradora Metropolitana (Desmet) has scheduled a conference call for creditors at which it plans to unveil a proposed debt restructuring. The call will be held November 12 at 1100 EST. Among the obligations to be restructured are $260m in unsecured bonds, $200m of which are 10.75% of 2017 notes. Executives both on and off the deal expect a significant haircut. Among the leading investors is EM-focused hedge fund Tudor. Cleary Gottlieb is advising holders. Heritage Capital Latin America is advising Desmet, while Dewey & LeBoeuf is providing the company with legal advice.