PLIANA, which later changed its name to TEXEC, requested support from Citibank to restructure debt in the amount of US$125 million and increase company capital, to recover from the economic crisis of 1982.

ZIMMA’s current executives completely restructured the company’s debt with 13 banks, and increased its equity through Citibank’s acquisition of a minority share of less than 20% of company stock.

Once the company was restructured, its quoted price per share increased 700% in a single day.

Debt restructuring

Activity: Production of textiles for diverse uses

Year 1988