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KrisEnergy noteholders vote in favour of debt restructuring plan

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KrisEnergy said on Friday its noteholders have voted in favour of a debt restructuring plan.

KRISENERGY said on Friday its noteholders have voted in favour of a debt restructuring plan.

The company had sought consent from noteholders to restructure S$330 million worth of bonds. It needed more than 75 per cent of voting bondholders to agree to having their principal returned to them in 2022 and 2023, instead of in 2017 and 2018 respectively.

This condition must be met before KrisEnergy can tap an up to S$140 million preferential offering of zero coupon secured notes with detachable warrants, that its major shareholder Keppel Corp has committed to subscribe to.

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