Marco Polo Marine to meet noteholders to discuss options as notes' maturity nears

MARCO Polo Marine on Wednesday said that it has appointed KPMG Services as adviser to the group to conduct an independent business review, in view of the upcoming maturity date of its notes on Oct 18.

These are its Series 001 S$50 million 5.75 per cent fixed rate notes due 2016, issued under its S$300 million multicurrency medium-term note programme.

The company will be hold an informal meeting with noteholders on Sept 13 to present the independent business review to them, and discuss with them the various options.

"The informal meeting will be held on a 'without prejudice' basis," it said.

Marco Polo Marine is an integrated marine logistics group. Its businesses include ship chartering, ship building, conversion, repair and maintenance services. The stock finished flat at S$0.088 on Wednesday.