OIL and gas temporary worker Ezion Holdings is putting forth bondholders assurance if an arranged renegotiating does not happen as arranged, trusting that the sweetened terms will win enough help for the arrangement.
Under a proposed correction to the first arrangement, the coupon, intrigue installment dates and type of installment for S$425 million of notes due in the vicinity of 2018 and 2020 will return to their unique terms if conditions for Ezion's proposed renegotiating are not met by March 31, 2018.
Ezion will likewise be required to reclaim those bonds inside 30 days of the renegotiating winning endorsement from bondholders. For holders of S$150 million of 7 for every penny perpetuals, another correction will oblige Ezion to reclaim the securities once the renegotiating conditions have been met.
Ezion is putting forth transformation choices and extra warrants for holders of the notes and perpetuals that will swap out the liabilities for value at around 27.63 Singapore pennies for each normal offer. Holders who change over early will appreciate a further reduced transformation cost of 24.87 Singapore pennies for each offer.
Bond and never-ending holders will vote on Nov 20.
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