AusGroup bondholders set terms for nod to debt issue's extension

They want their debt secured, early redemption of some bonds and slight improvement in coupon rates

Anita Gabriel

Published Thu, Sep 1, 2016 · 09:50 PM

Singapore

AUSGROUP noteholders want their bonds secured and are seeking a "small" early repayment to give their nod to roll over for another two years the S$110 million debt issue that falls due next month.

The Business Times understands that these conditions were set during a "very, very intense" session late on Wednesday that lasted for over three hours between AusGroup, led by managing director Eng Chiaw Koon, and the bondholders as well as their legal representative from Milbank.

"It was a long, intense meeting and basically what bondholders want is to have some security before they agree to the extension," said an in…