ASL Marine gets three-year breather from noteholders

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.