XXI Century Eurobond holders grant 45 day payment extension

XXI Century Investments was granted a 45 day (to July 8, 2009) deferral on the earliest date on which payment is due on the put option attached to its USD 175 mln guaranteed secured notes due in 2010. Eurobond holders approved the measure at a meeting yesterday, the real estate developer announced in a press release. According to XXI Century, the standstill will allow the company to continue discussions on restructuring the notes.