BreadTalk yet to receive notice from trustee to repay S$100m notes

Singapore

THE trustee of BreadTalk Group's S$100 million notes due in 2023 has not given the food and beverage player notice to immediately repay them to noteholders following BreadTalk's technical breach of the financial covenants, although it has the discretion to do so, BreadTalk said on Wednesday.

The Singapore Exchange Securities Trading (SGX-ST) had queried BreadTalk as to whether noteholders or the trustee are required to take any action to call for an event of default given the breach, whether the breach is capable of remedy and whether there is any remedy or grace period before an event of default is called.