New Hyflux investor floats offer for debts
Just weeks after Hyflux, Utico ink long-awaited rescue pact, a Singapore firm invites note holders, unsecured creditors to tender for buy-out of some S$1.8b in debts
Singapore
A NEW investor has come calling on beleaguered water cleaning company Hyflux, making an offer disclosed on Tuesday night to buy over some of its creditors' debts.
The fresh face - Aqua Munda, a Singapore-registered firm - is dangling its offer to holders of Hyflux's 4.25 per cent notes due in 2018 and 4.6 per cent notes and 4.2 per cent notes due in 2019, as well as to unsecured creditors of Hyflux and three of the company's subsidiaries.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama