Thursday, January 28, 2010

Suryainti propose 40% haircut

PT Suryainti Permata Tbk propose debt restructuring plan with 40% haircut debt scheme. The company also propose to standstill the interest payment for reducing the company burden.
Suryainti posted net loss IDR4.9 billion in 30 September 2009. Oversign B.V. has notice default to PT Suryainti Permata Tbk. Suryainti failed to pay interest US$5.03 million to Oversign B. V.
Suryainti Permata raise US$70.7 million from Oversign B.V. with interest 14.23% per annum. The legal consequences from the default, make Suryainti Permata has to pay interest loan 2% above the 14.23% per annum. Also, the loan will become due and apyable without declaration.

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