Spain: Codere to refinance debt but liquidity is ‘in order’ Phil, G3 Newswire · April 8, 2020 at 7:25 am Codere has hired the Bank of America to head renegotiations with bond holders for a further two-year extension on debt maturity terms as bonds have sunk to historic levels. However Codere claims to have liquidity in order to avoid the closure of its gaming rooms and bingo halls for now. According to Spanish daily El Confidencial the Bank of America was chosen at a board meeting last week. Sources familiar with the talks in the meeting, said that Codere’s administrators analyzed the company’s cash situation, hit by the forced closure of its establishments, including those in Spain, Italy, Uruguay, Argentina, Colombia and Mexico. Consequently, its only income comes from its online business, which is also suffering a sharp decline in activity due to the cancellation of sporting events.