ASL Marine gets three-year breather from noteholders
Holders of two notes, valued at S$150m, promised higher coupon rates in return for deferment
Singapore
NOTEHOLDERS of mainboard-listed ASL Marine on Friday voted in support of the proposed restructuring of the company's two medium term notes issuances, a move towards unlocking its cash flows for the purpose of riding the next sectorial upswing.
Holders of the two MTN issuances valued at S$150 million in all, have through a majority vote, granted ASL Marine a runway of three more years to fully redeem the outstanding notes due in March this year and October next year.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance