MTD Walkers PLC, supported by NDB Investment Bank, the Bank of Ceylon Trustees and Nithya Partners representing the interests of the investors to the debenture, and the internal Corporate Finance team has restructured its debenture obligations.
The company with the support of over 75 percent of the debenture holders cleared the hurdle of the debenture payment. The company which had about Rs. 2.1 billion outstanding on the debentures along with Rs. 149 million in interest payments has fully paid off the due interest in line with the existing Trust Deed.
According to the disclosure made by the company to the Colombo Stock Exchange on September 28, the Type A debenture interest rate was increased to 11.75 per cent from 9.75 per cent and Type B debenture to 12.25 per cent from 10.25 per cent per annum up to maturity.
As part of the restructuring, 49.04 per cent of the Type A debentures were purchased through the trading system of the Colombo Stock Exchange for debenture holders who held over 100,000 of these debentures.
The balance Type A debentures were extended for another 12 months. Holders of Type A debentures with 100,000 debentures or less were offered buyouts in full. This restructuring was done to better align the company’s debt obligations with the cash flows from its ongoing projects. (Bandula)
You can share this post!
Content
The Judicial Service Commission (JSC) has interdicted Colombo Fort Magistrate Kosala Senadheera.
Mr. Ali Sabri Rahim, a Member of Parliament (MP) for Puttalam District whom an open warrant had been issued, attended a public ceremony at Al Aksha National School in Kalpitiya today (16) as the special guest of honor.
The Supreme Court today refused interim relief in an application filed by President’s Counsel Senaka Walgampaya seeking an Order from the Supreme Court compelling the President to appoint judges to fill the existing vacancies in the Court Of Appeal.
Gazette on new speed limit regulations to be issued within two weeks
Two underworld criminals wanted for multiple crimes, including murder, were brought from Dubai to Sri Lanka, today (12).
Senior DIG Nilantha Jayawardena has been sent on compulsory leave pending disciplinary investigation over his failure to prevent the Easter Sunday bombings.
Leave Comments