SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16
OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 19, 2003
Durango Corporation
(f/k/a Grupo Industrial Durango, S.A. de C.V.)
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(Translation of registrant's name into English)
Torre Corporativa Durango, Potasio 150, Cuidad Industrial,
Durango, Durango, Mexico
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F. Form 20-F [x] Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934. Yes No [x]
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-_____________.
Notice
regarding
Forbearance Agreement
by
Corporacion Durango, S.A. de C.V.
With respect to the following notes (the Notes):
Description ISIN CUSIP Amount Amount Entering into
Outstanding the Forbearance Agreement
Grupo Industrial Durango, S.A. de C.V US40050MAA45 40050MAA4 18,230,000 15,478,000
12 5/8% Due 2003
Corporacion Durango, S.A. de C.V. US21986MAA36 21986MAA3 301,743,000 291,805,00013 1/8% Senior Notes Due 2006
Corporacion Durango, S.A. de C.V. US21986MAB19 21986MAB1 10,363,000 10,182,00013 1/2% Due 2008
Corporacion Durango, S.A. de C.V. US21986MAD74 21986MAD7 40,562,000 40,562,000
13 3/4 % Senior Notes Due 2009
Corporacion Durango, S.A.de C.V.
USP7448MAC30 P7448MAC3 134,438,000 134,438,000
13 3/4 % Senior Notes Due 2009
Corporacion Durango, S.A. de C.V. invited all holders of the Notes to enter into
consensual negotiations with the Company.
The Company is pleased to announce that holders of over 97% of the outstanding
principal amount of the Notes have agreed to the consensual negotiations with
the Company and have entered into a forbearance agreement.
Under the terms of the agreement, such holders of the Notes received a
forbearance fee of 2% on the principal amount of the Notes held.
Results for the following registered securities are provided above.
Information Available
Complete information with respect to the forbearance agreement is available
from:
Bondholder Communications, Attn: Cassandra Diaz
30 Broad Street, 46th Floor
New York, NY 10004
U.S.A.
Phone: 1-212-809-2663
Fax: 1-212-422-0790
E-Mail: cdiaz@bondcom.com
Web Site: www.bondcom.com/durango
The date and time of this Notice is Thursday, June 19, 2003, 10:00 A.M. New
York City Time.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized. CORPORACION DURANGO, S.A. DE C.V.
Date: June 19, 2003 By /s/ Mayela Rincon de Velasco
Durango, Mexico --------------------------------
Name: Mayela Rincon de Velasco
Title: Chief Financial Officer