PT Arpeni Pratama Ocean Line Tbk through its subsidiary firm, Arpeni Marine Co Pte Ltd (ARM), is obliged to pay US$33.05 million to JP Morgan in relation with the dropped off derivative contract by the shipping company December 15, 2009.
Finance report of Arpeni Pratama per September 2009 mentions there were four derivative contracts called off, namely US$/Sin$ Structured Protection Part IV with national value of JP%1.20 billion with contract period from May 16, 2007 to May3, 2013.
Second contract is Mint Swap Transaction with national value at US$20 million from January 30, 2007 to May 3, 2013.
Third is Swaption Transaction with national value at US$10,000,000 from February 28, 2007 to May 3, 2013.
Fourth is FX TARN Forward Transaction Part I with national value at JP%1.20 billion from January 2, 2008 to May 1, 2013. "With the termination of derivative contracts here, ARM should pay some US$33.05 billion to JP Morgan," a report said last week.
Finance report of Arpeni Pratama per September 2009 mentions there were four derivative contracts called off, namely US$/Sin$ Structured Protection Part IV with national value of JP%1.20 billion with contract period from May 16, 2007 to May3, 2013.
Second contract is Mint Swap Transaction with national value at US$20 million from January 30, 2007 to May 3, 2013.
Third is Swaption Transaction with national value at US$10,000,000 from February 28, 2007 to May 3, 2013.
Fourth is FX TARN Forward Transaction Part I with national value at JP%1.20 billion from January 2, 2008 to May 1, 2013. "With the termination of derivative contracts here, ARM should pay some US$33.05 billion to JP Morgan," a report said last week.
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