Singapore bondholders brace for defaults as borrowers seek easier terms
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Hong Kong
SINGAPORE dollar bondholders, already stung by the first default since 2009, face more companies struggling to meet the terms of their debt, after two oil and gas companies sought to extend maturities.
AusGroup Ltd and Otto Marine Ltd are among 10 Singapore-listed firms that have started a process to loosen bond vows this year, up from eight in 2015, according to Bloomberg-compiled data. That includes efforts to extend the maturity of debt and loosen covenants requiring companies to maintain certain leverage levels. Oil-related firms face S$1.4 billion of Singapore dollar bonds maturing through 2018, with S$325 million due by the end of the year, according to Bloomberg-compiled data.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
