Hatten Land bondholders agree to defer repayment for a second time

Published Wed, Jun 3, 2020 · 12:48 PM

CATALIST-listed Hatten Land said on Wednesday that the holders of its US$25 million, 8-per-cent guaranteed secured bonds due 2020 have agreed to let it defer repayment on the bonds once again.

Hatten Land said on Wednesday that the bondholders have agreed to push the repayment date out to July 8, 2020. The bonds, issued in 2018, were meant to mature on March 8, but Hatten Land had previously obtained approval to defer that to June 8, 2020.

The interest rate of 10 per cent applies to the unpaid principal and interest during the extended period. The terms and conditions of the bonds remain unchanged.

Hatten Land shares rose 0.2 Singapore cent or 2.94 per cnet to S$0.07 on Wednesday.