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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
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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.
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