TT International enters S$125m term sheet agreement

Singapore

DISTRESSED consumer electronics trader TT International on Friday announced that it entered into a term sheet agreement on Jan 31 with an unnamed potential investor as part of the company's financial restructuring efforts.

The proposed investment, which can be worth up to S$125 million, will be undertaken by a fund set up by the said investor, and may take the form of either or both of a loan to TT International and a subscription to new TT International shares, according to a filing with the SGX on Friday.