CWT redeems bonds but uncertainty looms

Singapore

A COLLECTIVE sigh of relief could be heard Thursday when CWT Pte Ltd, the Singapore-based logistics unit of HNA, confirmed that it had fully redeemed its S$100 million notes due the same day, together with accrued interest.

Note holders were bracing for the worst after CWT's parent company, Hong Kong-listed CWT International, said on Tuesday that it had failed to pay interest on a HK$1.4 billion (S$241.7 million) facility.