Halcyon seeks suspension of financial covenants for bonds due 2019
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Singapore
RUBBER processor Halcyon Agri is seeking the consent of its bondholders to suspend the financial covenants for its bonds due 2019. This comes after a pre-conditional cash offer by Shanghai-listed Sinochem International Corp in a dual takeover transaction also involving Singapore-listed GMG Global.
The firm is asking for a suspension of the financial covenants from the financial quarter ended March 31 this year up to July 31 next year, in order to facilitate the integration of GMG Global and other natural rubber assets from Sinochem into the group.
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