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Prospect News home > News index > List of issuers P > Headlines for PT Modernland Realty Tbk > News item
Published on 12/15/2021 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

Modernland’s restructuring of 6.95% notes due 2024, 10¾% notes due 2021 effective Dec. 17

By Marisa Wong

Los Angeles, Dec. 15 – Indonesia’s PT Modernland Realty Tbk. gave an update on its schemes of arrangement that involve the $240 million 6.95% guaranteed senior notes due 2024 issued by Modernland Overseas Pte. Ltd. (ISIN: XS1592893546) and the $150 million 10¾% guaranteed senior notes due 2021 issued by JGC Ventures Pte. Ltd. (ISIN: XS1871087133).

The companies announced that the restructuring conditions under each scheme have been satisfied and that the restructuring effective date is set to occur on Dec. 17.

The schemes were first announced in June.

Lucid Issuer Services Ltd. (+852 2281 0114, +44 20 7704 0880, modernland@lucid-is.com, https://deals.lucid-is.com/modernland) is the information agent.

Modernland Realty is a real estate development and leasing company based in Jakarta.


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