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Nam Cheong's revised swap still 'contentious'

Proposal may face challenges from debt-holders who feel compromised as company fends off equity dilution


NAM Cheong's sweetened equity swap for partial settlement for its US$336 million unsecured debt is likely to remain contentious, one analyst said while noting that there is still room for improvement.

The assumed cash flows underpinning Nam Cheong's debt restructuring...

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