Corporate digest

Keppel Corp

THE forbearance agreement between Keppel's associate company Floatel International and an ad-hoc committee of holders of its US$400 million senior secured, first-lien 9 per cent bonds has been extended again, this time to Sept 15, from Aug 31.

Floatel on Tuesday also said that it is in constructive discussions with a syndicate of bank lenders on an extension of a payment agreement, which had lapsed. Under the agreement, certain expenses in respect of Floatel Endurance and the bank collateral companies are covered by proceeds in blocked accounts.