Wednesday, January 27, 2010

CP Prima and bondholder agree debt standstill

PT Central Proteinaprima Tbk (CP Prima) and bondholder agree for debt standstill within 6 months.
CP Prima Director Gunawan Taslim says throughout filling to Indonesia Stock Exchange, the company will propose debt restructuring plan to bondholder.
The debt standstill prior to the payment of US$17 million coupon due on December 28, 2009. With the debt standstill condition, the bond holders agreed not to take any legal suit to the company.
CP Prima has unpaid bond coupon worth US$17 million issued by the subsidiary firm, Blue Ocean Resources Pte Ltd. the bond outstanding is worth at US$325 million.

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