Nam Cheong to meet noteholders on July 19 to update them on restructuring

NAM Cheong will convene on July 19 an informal meeting with noteholders of three issues totalling S$365 million, due between 2017 and 2019, to update them on the restructuring options.

At the meeting, to be facilitated and moderated by the Securities Investors Association of Singapore, noteholders will have the opportunity to pose to the company's management and advisers questions on the restructuring.

Nam Cheong said it has also reached out to DBS Trustee to work with the noteholders' trustee as the company engages with them on the restructuring.

The meeting is for holders of notes issued by the company under its S$600 million multi-currency medium-term note programme and is in relation to a S$90 million 5 per cent issue due 2017, a S$200 million 5.05 per cent notes due 2019, and S$75 million 6.50 per cent notes due 2018.