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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Worst days for China’s stock market may be over
Emerging-market optimism dashed by Fed as currencies, bonds sink
LHN warns H1 2024 net profit could decline by 28.6%
It is time to put idle cash back into the market
Gauging sentiment is crucial, and there are hard and easy ways to do it
iPhone maker Hon Hai’s April sales rise 19% in positive signal