LOCAL logistics packaging company Goodpack has succeeded in having the holders of all but one of its bonds agree to waiving certain conditions that would be non-compliant as a result of the acquisition by KKR.

Goodpack has had six series of notes under its $600 million multi-currency medium-term note programme established on June 18, 2010.

The proposed takeover bid by private equity firm KKR would have made some of the conditions in the notes non-compliant, as well as given rise to the occurrence of potential default events.