ASL Marine to hold third meeting with bondholders over debt restructure

SHIPBUILDER and vessel charterer ASL Marine on Wednesday said that it would convene its third informal meeting with bondholders who hold some S$150 million worth of notes on Dec 5, to present the revised proposal for the notes.

The bondholders hold notes sold under two tranches: one series of S$100 million in notes technically due 2017 that paid 4.75 per cent per annum, and a second series of S$50 million notes due 2018 that paid 5.35 per cent per annum.

Shares of ASL Marine last traded at S$0.079.