/raid1/www/Hosts/bankrupt/TCRLA

/raid1/www/Hosts/bankrupt/TCRLA_Public/210315.mbx T R O U B L E D C O M P A N Y R E P O R T E R L A T I N A M E R I C A Monday, March 15, 2021, Vol. 22, No. 47 Headlines B R A Z I L RENOVA ENERGIA: Gets USD63.7MM DIP Loan for 400-MW Wind Project D O M I N I C A N R E P U B L I C DOMINICAN REPUBLIC: Freezes Fuel Prices for 2nd Consecutive Week DOMINICAN REPUBLIC: Rising Commodity Prices Impact Economy DOMINICAN REPUBLIC: Salary Only Covers Basic Monthly Family Budget M E X I C O ARMOUR SEURE: A.M. Best Affirms B (Fair) Fin'l. Strength Rating P E R U CHINA FISHERY: Trustee Hopes to "Unblock" Deal w/ Settlement Push P U E R T O R I C O J.J.W. METAL: Gets Court Approval to Hire Milam as Special Counsel J.J.W. METAL: Gets OK to Hire Toro & Arsuaga as Special Counsel X X X X X X X X [*] BOND PRICING: For the Week March 8 to March 12, 2021 - - - - - =========== B R A Z I L =========== RENOVA ENERGIA: Gets USD63.7MM DIP Loan for 400-MW Wind Project --------------------------------------------------------------- Renewables Now reports that Brazilian renewables developer Renova Energia SA (BVMF:RNEW11) has received a BRL-362.5-million (USD63.7m/EUR53.4m) debtor-in-possession (DIP) loan to complete the 400-MW Phase A of the Alto Sertao III wind power complex. The financing came from a bank credit note structured by Brazilian independent resource manager Quadra Gestao de Recursos Ltda, contracted by the company's subsidiary Chipley SP Participacoes SA, Renova announced, according to Renewables Now. According to the company's filling, this transaction is part of its judicial recovery process, the report relays. The deal success and the completion of Phase A are an integral part of the firm's restructuring, the report says. Currently, the group's second judicial recovery plan is being processed at Sao Paulo's 2nd Bankruptcy and Judicial Reorganizations court. Renova initially filed for bankruptcy in October 2019, reporting around BRL 3.1 billion in total debt, the report adds. About Renova Energia As reported in the Troubled Company Reporter-Latin America on Oct. 24, 2019, Gabriela Mello at Reuters reports that a Brazilian court has accepted a bankruptcy protection request filed by renewable energy firm Renova Energia SA, nominating KPMG Corporate Finance as the court administrator, the company said in a securities filing. Renova Energia said earlier its bankruptcy filing involved a total debt of BRL3.1 billion (US$745.5 million), according to Reuters. =================================== D O M I N I C A N R E P U B L I C =================================== DOMINICAN REPUBLIC: Freezes Fuel Prices for 2nd Consecutive Week ---------------------------------------------------------------- Dominican Today reports that the Ministry of Industry, Commerce, and Mipymes (MICM) kept fuel prices unchanged for the week of March 13 to 19. With the new MICM resolution, premium gasoline will be sold at RD$242.10 per gallon and regular gasoline at RD$228.50 per gallon, both maintaining their price, according to Dominican Today. Meanwhile, regular diesel will be shipped to the public at RD$181.60 per gallon and optimal grade at 197.50 pesos per gallon, leaving its cost to the consumer unchanged, the report notes. Likewise, the Ministry reported that liquefied petroleum gas (LPG) would be sold at RD$128.10 per gallon, the same price as the previous week, the report relays. It is the second consecutive week that the MICM has frozen the prices of all fuels, the report discloses. The institution explained that had it not intervened, it would have been forced to increase more than 17 pesos per gallon regarding gasoline, more than 11 pesos in the case of LPG, and between 10 and 11 pesos if for regular and optimal diesel, the report adds. About Dominican Republic The Dominican Republic is a Caribbean nation that shares the island of Hispaniola with Haiti to the west. Capital city Santo Domingo has Spanish landmarks like the Gothic Catedral Primada de America dating back 5 centuries in its Zona Colonial district. Luis Rodolfo Abinader Corona is the current president of the nation. The Troubled Company Reporter-Latin America reported in April 2019 that the Dominican Today related that Juan Del Rosario of the UASD Economic Faculty cited a current economic slowdown for the Dominican Republic and cautioned that if the trend continues, growth would reach only 4% by 2023. Mr. Del Rosario said that if that happens, "we'll face difficulties in meeting international commitments." An ongoing concern in the Dominican Republic is the inability of participants in the electricity sector to establish financial viability for the system. Fitch Ratings on Jan. 18, assigned a 'BB-' rating to Dominican Republic's USD1.5 billion 5.3% notes due Jan. 21, 2041. Concurrently, the Dominican Republic reopened its 2030 4.5% notes for an additional USD1.0 billion, which Fitch rates 'BB-', raising the total outstanding amount of the 2030 notes to USD2.0 billion. Standard & Poor's, on December 4, 2020, affirmed its 'BB-' long-term foreign and local currency sovereign credit ratings on the Dominican Republic. The outlook remains negative. S&P also affirmed its 'B' short-term sovereign credit ratings. The negative outlook reflects S&P's view that it could lower the ratings on the Dominican Republic over the next six to 18 months, given the severe impact of the COVID-19 pandemic on the sovereign's already vulnerable fiscal and external profiles, as well as the potential for a weaker-than-expected economic recovery. Moody's credit rating for Dominican Republic was last set at Ba3 with stable outlook (July 2017). Fitch's credit rating for Dominican Republic was last reported at BB- with negative outlook (May 8, 2020). DOMINICAN REPUBLIC: Rising Commodity Prices Impact Economy ---------------------------------------------------------- Dominican Today reports that rises in the prices of raw materials in international markets and increased shipping rates are the other effects that the COVID-19 pandemic has had on the world economy. Although some prices of essential goods have fallen in the Dominican Republic in recent days, the pressures remain, according to Dominican Today. Foods like kidney beans, sweet potatoes, cucumbers, lettuce, cauliflower, coriander, lemon, and chinola have risen, the report notes. Meanwhile, the yautia, banana, garlic, beets, tomatoes, carrots, broccoli, and spinach lowered their prices, the report relays. According to the weekly reports registered by the Ministry of Agriculture of the New Market, foods such as chickens, eggs, and rice maintained their prices, the report discloses. However, the Dominican Poultry Association (ADA) reported that the international prices of wheat, corn, flour, and soybean oil, necessary inputs in the food production chain, have registered constant price increases during the last year, accumulating an increase of more than 50%, the report relays. "The conditions of the world market, caused by various factors that include the special purchases of cereals, made by China to the various producing countries, the reduction of safety inventories and elements of uncertainty in the yields of large agricultural areas, have generated a global alert for its impact on the basic food basket, including poultry proteins," the ADA quoted in a statement obtained by the news agency. Additionally, poultry producers indicated that maritime freight rates had experienced increases similar to those of the sector's prices, the report relays. And the situation of marine transport could be maintained at least for the entire first semester, the report notes. The head of Maritime Transport for Central America and the Caribbean of DHL Global Forwarding, Oscar Ayala Bichara, said, a few days ago, that Latin America will have to face a new normal in the maritime sector due to the restrictions on transport capacity, the report relays. In the framework of an AmchamDR conference, he added that the situation would continue until June of this year, the report discloses. Meanwhile, in the wholesale and municipal markets, buyers showed their perceptions of prices, the report notes. "It cannot be what is happening. The price difference between one business and another in selling the same product is not possible," said Marielba Aquino, a private employee, the report adds. About Dominican Republic The Dominican Republic is a Caribbean nation that shares the island of Hispaniola with Haiti to the west. Capital city Santo Domingo has Spanish landmarks like the Gothic Catedral Primada de America dating back 5 centuries in its Zona Colonial district. Luis Rodolfo Abinader Corona is the current president of the nation. The Troubled Company Reporter-Latin America reported in April 2019 that the Dominican Today related that Juan Del Rosario of the UASD Economic Faculty cited a current economic slowdown for the Dominican Republic and cautioned that if the trend continues, growth would reach only 4% by 2023. Mr. Del Rosario said that if that happens, "we'll face difficulties in meeting international commitments." An ongoing concern in the Dominican Republic is the inability of participants in the electricity sector to establish financial viability for the system. Fitch Ratings on Jan. 18, assigned a 'BB-' rating to Dominican Republic's USD1.5 billion 5.3% notes due Jan. 21, 2041. Concurrently, the Dominican Republic reopened its 2030 4.5% notes for an additional USD1.0 billion, which Fitch rates 'BB-', raising the total outstanding amount of the 2030 notes to USD2.0 billion. Standard & Poor's, on December 4, 2020, affirmed its 'BB-' long-term foreign and local currency sovereign credit ratings on the Dominican Republic. The outlook remains negative. S&P also affirmed its 'B' short-term sovereign credit ratings. The negative outlook reflects S&P's view that it could lower the ratings on the Dominican Republic over the next six to 18 months, given the severe impact of the COVID-19 pandemic on the sovereign's already vulnerable fiscal and external profiles, as well as the potential for a weaker-than-expected economic recovery. Moody's credit rating for Dominican Republic was last set at Ba3 with stable outlook (July 2017). Fitch's credit rating for Dominican Republic was last reported at BB- with negative outlook (May 8, 2020). DOMINICAN REPUBLIC: Salary Only Covers Basic Monthly Family Budget ------------------------------------------------------------------ Dominican Today reports that having a job in the formal sector in the Dominican Republic does not imply receiving a salary that allows the worker to cover all the products and services needed to fulfill the basic needs of the national basic family grocery budget, at least in terms of average. The figures indicate that the 1,919,779 workers contributing to the Social Security Treasury (TSS) in December 2020 had an average monthly salary of RD$26,350.7 (US $454), a month for which the national average monthly basic family grocery budget ran RD$36,936.17 (US $638), according to the Central Bank, according to Dominican Today. The statistics show that companies' average salary only allows their workers to cover 71.3% of the goods and services contained in the family basket (basic monthly grocery budget), the report relays. The reports discloses that the country has three provinces where employees earn an average monthly salary of less than RD$10,000. And only workers located in the National District would come close to covering the cost of the family basket with their pay, the report notes. The data indicates that in Elias Pina, the average salary of the 2,123 formal workers, as of the last month of 2020, was RD$6,954.8 (US $120) when for that same period the family basket for the southern region the CB estimated it at RD$29,117.45 (US $500) so that the salary only covered 23.8% of this, the report relates. El Seibo is the second province in the country with the worst salaries, the report notes. In December, the region had 3,092 formal employees in the TSS, who averaged RD$9,016.4 per month in salary, the report discloses. In the east, as of last December, the price of the family basket of goods amounted to RD$33,902.71, the report says. Likewise, Pedernales is the third province with the lowest average salary, the report relays. The 860 workers in this province registered with the Social Security Treasury received an average payment of RD$9,869.1 (US $172), the report notes. Azua (RD$10,071.1), Independencia (RD$10,349.8), Bahoruco (RD$10,440.9), and Maria Trinidad Sanchez (RD$10,981.3) complete the list of the provinces where the lowest average salary is paid, the report relays. In the latter demarcation, the cost of the family basket for the Cibao region in December 2020 was RD$34,774.19, the report discloses. The District and San Cristobal The National District and San Cristobal are the two localities where the country's highest average salary is paid, the report notes. However, the amount is also not enough to cover the cost of the national family basket, the report relays. The 981,840 formal employees in the economic center of the country earned an average salary of RD$33,465.1 as of December, a salary close to the RD$36,936.17 that the national basket of goods cost that same month, the report relays. However, for the Ozama zone (National District and Santo Domingo), the basket, segregated by region, had a price of RD$43,423.53, according to the Central Bank, the report says. Workers in the southern province of San Cristobal have the second-best average salary in the country, earning RD$22,946.1 as of the last month of last year, the report adds. About Dominican Republic The Dominican Republic is a Caribbean nation that shares the island of Hispaniola with Haiti to the west. Capital city Santo Domingo has Spanish landmarks like the Gothic Catedral Primada de America dating back 5 centuries in its Zona Colonial district. Luis Rodolfo Abinader Corona is the current president of the nation. The Troubled Company Reporter-Latin America reported in April 2019 that the Dominican Today related that Juan Del Rosario of the UASD Economic Faculty cited a current economic slowdown for the Dominican Republic and cautioned that if the trend continues, growth would reach only 4% by 2023. Mr. Del Rosario said that if that happens, "we'll face difficulties in meeting international commitments." An ongoing concern in the Dominican Republic is the inability of participants in the electricity sector to establish financial viability for the system. Fitch Ratings on Jan. 18, assigned a 'BB-' rating to Dominican Republic's USD1.5 billion 5.3% notes due Jan. 21, 2041. Concurrently, the Dominican Republic reopened its 2030 4.5% notes for an additional USD1.0 billion, which Fitch rates 'BB-', raising the total outstanding amount of the 2030 notes to USD2.0 billion. Standard & Poor's, on December 4, 2020, affirmed its 'BB-' long-term foreign and local currency sovereign credit ratings on the Dominican Republic. The outlook remains negative. S&P also affirmed its 'B' short-term sovereign credit ratings. The negative outlook reflects S&P's view that it could lower the ratings on the Dominican Republic over the next six to 18 months, given the severe impact of the COVID-19 pandemic on the sovereign's already vulnerable fiscal and external profiles, as well as the potential for a weaker-than-expected economic recovery. Moody's credit rating for Dominican Republic was last set at Ba3 with stable outlook (July 2017). Fitch's credit rating for Dominican Republic was last reported at BB- with negative outlook (May 8, 2020). =========== M E X I C O =========== ARMOUR SEURE: A.M. Best Affirms B (Fair) Fin'l. Strength Rating --------------------------------------------------------------- AM Best has revised the under review status to negative from developing and affirmed the Financial Strength Rating of B (Fair), the Long-Term Issuer Credit Rating of "bb" and the Mexico National Scale Rating of "a.MX" of Armour Secure Insurance S.A. de C.V. (Armour) (Mexico). The under review with negative implications status reflects AM Best's ongoing review of the financial situation at Armour's holding company after the cancellation of the acquisition of its operation in Mexico by AXA XL. This transaction was cancelled at the conclusion of the waiting period for regulatory approval on Nov. 25, 2020, as established in the acquisition agreement. The ratings reflect Armour's balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, limited business profile and marginal enterprise risk management (ERM). The strong balance sheet assessment reflects Armour's capital base, consistently strengthened through the reinvestment of earnings over the years. Armour has been able to sustain a profitable domestic operation through its underwriting results and investment income. Armour's business profile is limited due to its concentration in the niche market of title insurance in Mexico, coupled with challenges ahead for the real estate market amid Mexico's weakened economy. AM Best's view of the company's ERM is marginal due to concern regarding governance and availability of information at its holding company, Trebuchet Group Holdings Limited. The ratings will remain under review until AM Best can fully assess the financial situation at Armour's holding company. The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of AM Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology. Key insurance criteria reports utilized: Available Capital & Holding Company Analysis (Version Oct. 13, 2017) Evaluating Country Risk (Version Oct. 13, 2017) Rating Title Insurance Companies (Version July 31, 2020) Understanding Universal BCAR (Version June 11, 2020) AM Best's Ratings On a National Scale (Version Oct. 13, 2017) Scoring and Assessing Innovation (Version March 5, 2020) Evaluating U.S. Surplus Notes (Version Oct. 13, 2017) View a general description of the policies and procedures used to determine credit ratings. For information on the meaning of ratings, structure, voting and the committee process for determining the ratings and monitoring activities, please refer to Guide to Best's Credit Ratings. Previous Rating Date: Dec. 11, 2020 Date Range of Financial Data Used: Dec. 31, 2014-Dec. 31, 2020 ======= P E R U ======= CHINA FISHERY: Trustee Hopes to "Unblock" Deal w/ Settlement Push ----------------------------------------------------------------- Cliff White at seafoodsource.com reports that two developments in the China Fishery Chapter 11 bankruptcy filing have given William Brandt, the trustee overseeing the sale of the company's Peruvian assets, hope that he will get a deal done. On February 19, Brandt filed a proposed settlement agreement with China Fishery Group's court-appointed liquidator, FTI Consulting, which had sued the company, arguing it had used ill-gotten earnings to purchase Copeinca in 2013, according to seafoodsource.com. The suit alleges the Ng family, which controls a majority stake of China Fishery, used inflated revenues and fraudulent transactions through its subsidiaries PAE, Europaco, Palanga, Zolotaya and third-party vendor Solar Fish as leverage to acquire Copeinca, the report relays. FTI Consulting has also filed a separate lawsuit in Hong Kong against members of the Ng family, accusing the family of being at the center of the alleged trade-finance fraud, the report discloses. The lawsuit, which Brandt previously described to SeafoodSource as a significant roadblock in his efforts to sell China Fishery Group's Peruvian assets, including Copeinca, demands USD 152 million (EUR 127.4 million) in reparations, but the in-principle agreement Brandt has struck with FTI Consulting will reduce the payout to USD 12 million (EUR 10.1 million) in cash, the report says. A hearing on the settlement will take place on March 16 with U.S. Bankruptcy Court Judge James Garrity, who is presiding over the Chapter 11 proceedings, the report relays. "I negotiated the deal. I spent the last eight to nine months in mediation carefully crafting the settlement and pushing people to accept the agreement. So I'm very much in favor of it," Brandt told SeafoodSource. "I absolutely believe this is the best thing for the company," it added. If approved by Garrity, the settlement still faces obstacles before it is finalized, including certification by the British Virgin Islands court in which it was filed, and approval of a majority of the company's shareholders, the report relays. While the Ng family can oppose the settlement, Brandt has threatened to push to have their rights as company directors removed if they do so, the report notes. However, he said the settlement is in the Ng family's best interest, as it "terminates costly litigation that could plod on aimlessly for years" and would clear a path for a potential sale of the CFG Peru assets, the report discloses. "The whole point of the FTI settlement is to aid in unblocking the course of the dealflow," Brandt said. He pointed to a debt-for-equity restructuring proposal made public earlier this month by a majority of the holders of the China Fishery's senior notes and club loans - calling themselves the ad hoc creditor group - as evidence that the settlement agreement is helping to unfreeze the sale process, the report relays. "Their plan indicates it has well served that purpose," Brandt said, the report relays. "I'm trying right now work to see if I can get an agreement with the Ngs and moving to encourage all the other parties including, including the ad hoc group, to get there [on the settlement]," he added. Brandt said the ad hoc group's proposal is another positive step in his efforts to sell the CFG Peru assets, as its offer to convert USD 700 million (EUR 581.4 million) of existing debt into new equity, add USD 300 million (EUR 251.5 million) in new senior secured notes, and provide USD 150 million (EUR 124.6 million) in new funding to the company could potentially serve as the equivalent of an initial bid for the Peruvian assets, the report notes. "I'm fine with that offer and it's good for them, though I'm not sure they're going to get it done," Brandt said, the report discloses. "I have some concerns about how they're doing it and who's going to sign on, but I have no problem whatsoever with them trying. At the same time, if that becomes the basis of a stalking horse other people bid against, so be it," the report relays. Brandt listed the baseline of a stalking horse bid at USD 1.15 billion (EUR 964 million), similar to his previous public comments but lower than his initial expectation the assets could bring in as much as USD 1.7 billion (EUR 1.4 billion), the report notes. Following publication of the settlement terms, Brandt said he has heard from three separate buyers with renewed interest, the report relays. "The [COVID-19] pandemic has produced an odd outcome - food security has all of a sudden gone up in importance. You can presume large Asian nations are reconsidering their position and want to lock up large supply chains on the theory this isn't the last pandemic that hits," he added. Brandt said there are still several sticking points that need to be addressed before any sale is consummated, the most important of which is sign-off from the Ng family, the report discloses. He suggested the family may seek to retain an interest in the Peruvian business through a sale or otherwise try to recover some of the assets currently being brokered through the trusteeship, the report says. "I don't want to put words in their mouths, but like everyone else, this process has grinded on them over four years. Everyone wants a conclusion if it can be reached," Brandt added. "The last four years have provided everyone a certain dose of reality about what's able to be accomplished. At the same time, the Ngs are still fighting and it's round 15, so you've got to give them their due. We'll see what happens," Brandt said. Securing support of Hong Kong and Shanghai Banking Corporation (HSBC), China Fishery's primary lender, will also be vital, Brandt said, the report relays. China Fishery remains locked in a legal battle with HSBC and Brandt has himself sued HSBC on behalf of CFG Peru, but he said he hopes the bank is willing to resolve its disputes in pursuit of an end to the entire Chapter 11 debacle, the report discloses. "I'm glad people are trying to move toward the center on this - it's about time," Brandt said. "But I'm the first to agree there's no shortage of roadblocks remaining, given the complexity of the case and the numerous national jurisdictions involved. It's taking time but we're getting there, and an important step is the much-needed clarity we are gaining through the recent moves that have been made," Brandt added. About China Fishery Group China Fishery Group Limited (Cayman) and its affiliates sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 16-11895) on June 30, 2016. In the petition signed by CEO Ng Puay Yee, China Fishery Group was estimated to have assets at $500 million to $1 billion and debt at $10 million to $50 million. The cases are assigned to Judge James L. Garrity Jr. Weil, Gotshal & Manges LLP has been tapped to serve as lead bankruptcy counsel for China Fishery and its affiliates other than CFG Peru Investments Pte. Limited (Singapore). Weil Gotshal replaces Meyer, Suozzi, English & Klein, P.C., the law firm initially hired by the Debtors. The Debtors have also tapped Klestadt Winters Jureller Southard & Stevens, LLP, as conflict counsel; Goldin Associates, LLC, as financial advisor; RSR Consulting LLC as restructuring consultant; and Epiq Bankruptcy Solutions, LLC, as administrative agent. Kwok Yih & Chan serves as special counsel. On Nov. 10, 2016, William Brandt, Jr., was appointed as Chapter 11 trustee for CFG Peru Investments Pte. Limited (Singapore), one of the Debtors. Skadden, Arps, Slate, Meagher & Flom LLP serves as the trustee's bankruptcy counsel; Hogan Lovells US LLP serves as special counsel; and Quinn Emanuel Urquhart & Sullivan, LLP, serves as special litigation counsel. ===================== P U E R T O R I C O ===================== J.J.W. METAL: Gets Court Approval to Hire Milam as Special Counsel ------------------------------------------------------------------ J.J.W. Metal Corp. received approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Frank Inserni Milam, Esq., an attorney practicing in Puerto Rico, as its special counsel. The attorney will represent the Debtor in matters related to its request before the Court of First Instance of Puerto Rico, Superior Section of Carolina, to execute and enforce a settlement agreement with the Municipality of Carolina regarding the reopening of its metal recycling operations. Mr. Milam will be paid at the rate of $175 per hour. In court papers, Mr. Milam disclosed that he is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code. Mr. Milam holds office at: Frank Inserni Milam, Esq. P.O. Box 193748 San Juan, PR 00919-3748 Tel: (787) 763-3851 Fax: (787) 763-5233 Email: finserni@gmail.com About J.J.W. Metal Corp. J.J.W. Metal Corp. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 20-04536) on Nov. 23, 2020. J.J.W. Metal President Jorge Rodriguez Quinones signed the petition. At the time of filing, the Debtor disclosed total assets of $1,649,341 and total liabilities of $1,750,865. Judge Edward A. Godoy oversees the case. The Debtor tapped Charles A. Cuprill, P.S.C., Law Offices as its legal counsel and Luis R. Carrasquillo & Co. P.S.C. as its financial consultant. Gino Negretti Lavergne, Esq., and Frank Inserni Milam, Esq., serve as the Debtor's special counsel. J.J.W. METAL: Gets OK to Hire Toro & Arsuaga as Special Counsel --------------------------------------------------------------- J.J.W. Metal Corp. received approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire Toro & Arsuaga, LLC as its special counsel. The firm will represent the Debtor in environmental matters, including the evaluation of ecological and human health risk assessments and applicable criteria under the guidelines promulgated by the U.S. Environmental Protection Agency and the Federal Comprehensive Environmental Response. The firm will be paid at these rates: Partners $175 per hour Junior Partners $125 per hour Associates $110 per hour Paralegals/Law Clerks $75 per hour Toro & Arsuaga is a "disinterested person" within the meaning of Section 101(14) of the Bankruptcy Code, according to court papers filed by the firm. The firm can be reached through: Rafael Toro Ramirez, Esq. Toro & Arsuaga, LLC P.O. Box 11064 San Juan, PR 00922-1064 Tel: (787) 299-1100 Email: rtoro@toro-arsuaga.com About J.J.W. Metal Corp. J.J.W. Metal Corp. sought protection under Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 20-04536) on Nov. 23, 2020. J.J.W. Metal President Jorge Rodriguez Quinones signed the petition. At the time of filing, the Debtor disclosed total assets of $1,649,341 and total liabilities of $1,750,865. Judge Edward A. Godoy oversees the case. The Debtor tapped Charles A. Cuprill, P.S.C., Law Offices as its legal counsel and Luis R. Carrasquillo & Co. P.S.C. as its financial consultant. Gino Negretti Lavergne, Esq., and Frank Inserni Milam, Esq., serve as the Debtor's special counsel. =============== X X X X X X X X =============== [*] BOND PRICING: For the Week March 8 to March 12, 2021 -------------------------------------------------------- Issuer Name Cpn Price Maturity Country Curr ----------- --- ----- -------- ------- --- Province of Santa Fe 6.9 75.2 11/1/2027 AR USD Argentine Republic Gov 6.3 74.1 11/9/2047 AR EUR Provincia de Cordoba 7.1 72.7 8/1/2027 AR USD Province of Santa Fe 6.9 74.7 11/1/2027 AR USD Banco Macro SA 17.5 65.2 5/8/2022 AR ARS Esval SA 3.5 49.9 2/15/2026 CL CLP Provincia del Chaco Ar 9.4 74.8 8/18/2024 AR USD AES Tiete Energia SA 6.8 1.2 4/15/2024 BR BRL Provincia de Rio Negro 7.8 70.3 12/7/2025 AR USD Banco Macro SA 17.5 65.2 5/8/2022 AR ARS Provincia de Rio Negro 7.8 70.3 12/7/2025 AR USD Odebrecht Finance Ltd 6.0 16.4 4/5/2023 KY USD Cia Latinoamericana de 9.5 73.9 7/20/2023 AR USD Argentina Bonar Bonds 7.6 74.4 4/18/2037 AR USD Argentine Republic Gov 8.3 74.5 12/31/2033 AR USD Argentine Republic Gov 8.3 72.9 12/31/2033 AR USD Empresa Electrica de l 2.5 63.8 5/15/2021 CL CLP Argentine Republic Gov 7.1 75.7 6/28/2117 AR USD Banco Security SA 3.0 27.4 6/1/2021 CL CLP Argentine Republic Gov 0.5 27.6 12/31/2038 AR JPY Noble Holding Internat 5.3 60.5 3/15/2042 KY USD Argentine Republic Gov 8.3 74.5 12/31/2033 AR USD Argentine Republic Gov 6.9 75.2 1/11/2048 AR USD Argentina Bonar Bonds 5.8 75.2 4/18/2025 AR USD Argentine Republic Gov 4.3 70.0 12/31/2033 AR JPY Automotores Gildemeist 6.8 54.9 1/15/2023 CL USD Sylph Ltd 2.4 65.1 9/25/2036 KY USD Provincia de Cordoba 7.1 74.7 8/1/2027 AR USD City of Cordoba Argent 7.9 73.1 9/29/2024 AR USD Odebrecht Finance Ltd 6.0 16.4 4/5/2023 KY USD Noble Holding Internat 6.1 62.0 3/1/2041 KY USD Provincia del Chaco Ar 4.0 0.0 12/4/2026 AR USD Provincia de Buenos Ai 7.9 75.3 6/15/2027 AR USD Provincia de Rio Negro 7.8 70.4 12/7/2025 AR USD YPF SA 16.5 67.3 5/9/2022 AR ARS Automotores Gildemeist 8.3 54.2 5/24/2021 CL USD Cia Energetica de Pern 6.2 1.1 1/15/2022 BR BRL Enel Americas SA 5.8 32.7 6/15/2022 CL CLP Metrogas SA/Chile 6.0 41.6 8/1/2024 CL CLP Corp Universidad de Co 5.9 64.2 11/10/2021 CL CLP Cia Latinoamericana de 9.5 74.3 7/20/2023 AR USD Polarcus Ltd 5.6 71.8 7/1/2022 AE USD Argentine Republic Gov 8.3 72.9 12/31/2033 AR USD Automotores Gildemeist 6.8 54.9 1/15/2023 CL USD Argentine Republic Gov 8.3 72.9 12/31/2033 AR USD Odebrecht Finance Ltd 6.0 16.4 4/5/2023 KY USD Noble Holding Internat 6.2 62.2 8/1/2040 KY USD Province of Santa Fe 6.9 74.7 11/1/2027 AR USD KrisEnergy Ltd 4.0 40.4 6/9/2022 SG SGD Embotelladora Andina S 3.5 37.9 8/16/2020 CL CLP Fospar S/A 6.5 1.2 5/15/2026 BR BRL China Huiyuan Juice Gr 6.5 46.6 8/16/2020 CN USD YPF SA 16.5 67.3 5/9/2022 AR ARS Empresa de Transporte 4.3 30.9 7/15/2020 CL CLP Automotores Gildemeist 8.3 54.2 5/24/2021 CL USD Province of Santa Fe 6.9 75.2 11/1/2027 AR USD Odebrecht Finance Ltd 7.0 16.5 4/21/2020 KY USD Yida China Holdings Lt 7.0 74.3 4/19/2020 CN USD YPF SA 16.5 67.3 5/9/2022 AR ARS Provincia del Chubut A 4.5 2208 3/30/2021 AR USD Avadel Finance Cayman 4.5 55.0 2/1/2023 US USD ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter-Latin America is a daily newsletter co-published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA, Marites O. 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