ASL Marine calls noteholder meeting ahead of consent solicitation

By Marisa Wong

Morgantown, W.Va., Dec. 12 – ASL Marine Holdings Ltd. announced it will hold an informal meeting with holders of its S$100 million 4¾% series 006 notes due 2017 and S$50 million 5.35% series 007 notes due 2018 on Dec. 16.

The company said the purpose of the meeting is to consult the noteholders before it launches a consent solicitation. The company will update noteholders on its financial and operation position, explain the terms of the proposed consent solicitation and give holders the opportunity to ask questions about the consent solicitation.

The company had previously announced it is considering an extension of the maturity dates of the notes. Adverse industry conditions have affected the company’s performance in terms of lower revenues, cash and asset values, which has consequently reduced its debt capacity, the company said.

Details of the informal meeting can be obtained by contacting Romil Singh / El Lee at +65 6438 2990 or romil@financialpr.com.sg / el@financialpr.com.sg.

The series 006 and 007 notes were originally issued under the company’s S$500 million multicurrency debt issuance program.

ASL Marine is a Singapore-based shipping firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.