ASL Marine lines up new loan of S$99.9m
MAINBOARD-LISTED ASL Marine announced after Friday trading hours it has lined up a five-year club term loan facility of S$99.9 million from various lenders.
The new loan is subject to the listed player securing noteholders' consent to extend repayments of two fixed rate notes amounting to S$100 million and S$50 million by three years or more.
The S$100 million and S$50 million notes are maturing on March 28, 2017, and Oct 1 2018, respectively.
ASL Marine has appointed a solicitation agent and intends to engage the noteholders in discussions prior to the launch of the consent solicitation exercise.
It said it believes that it will have a reasonably good chance of obtaining the required approvals from noteholders.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try
Honda to invest US$808 million in Brazil by 2030
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines
Telegram messaging service to allow Tether stablecoin payments