Falcon Energy to seek clemency on notes maturity, covenants
MAINBOARD-LISTED Falcon Energy Group (FEG) said that it intended to seek consent from noteholders towards the extension of the maturity of S$50 million medium-term notes due in September 2017.
The offshore and marine group also added after trading closed on Wednesday, it has informed noteholders at a meeting held earlier the same day, it will seek waiver of all financial covenants by way of a consent solicitation exercise.
No specific extension period has been proposed and the terms of the consent solicitation exercise have not been finalised, it said.
The board of FEG will convene a second informal meeting in due course.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade