FSL files scheme for extension of syndicated loan

Singapore

FSL Trust said after Monday's trading hours that it has applied to Singapore's High Court for a scheme of arrangement (SA) proposing one-year extension to a syndicated loan facility that has some US$165.6 million outstanding.

FSL said that this scheme does not extend to its trade creditors but only lenders of the US$479.56 million syndicated loan facility dated Dec 1 2011. The shipping trust is seeking to term out the maturity date of the facility by one year.