KrisEnergy's shares rise on approval for bond restructuring, but some noteholders disappointed

Singapore

KRISENERGY'S bond restructuring proposal was passed by bondholders on Friday, to the disappointment of a group of bondholders who had earlier asked for better terms.

The company's shares, which had been placed on a trading halt in the morning when the noteholders' meetings were being held, rose 3 per cent to close at 20 Singapore cents amid heavy trading.

Some 43.5 million KrisEnergy shares changed hands, making the counter one of the most active ones on the Singapore Exchange on Friday.

KrisEnergy said that with the extraordinary resolutions having been passed, the proposals are binding on all noteholders of the 2017 and 2018 bonds, including those who didn't accept the proposals, attend the meeting, or abstained from voting…