Restructuring
Beleaguered Suzlon goes back to CB restructuring table
After spending the most part of 2009 on an arduous CB restructuring exercise, India’s Suzlon Energy, the world’s fifth-largest wind turbine maker, is asking bondholders to come back to the drawing board. The company has also dropped Deutsche Bank from the restructuring mandate and will rely solely on Macquarie for advice.
Foreign bondholders put more pressure on Wockhardt
Beleaguered Indian pharma company Wockhardt’s troubles took a turn for the worse last week after foreign holders of a defaulted US$110m zero-coupon CB upped the pressure on the company with a wind-up petition and demands for a reopening of its debt restructuring.
Garuda restructuring draws to a close under tax cloud
New tax regulations introduced by Indonesian tax authorities in mid-November threaten to push national carrier Garuda back into restructuring, potentially upsetting a debt restructuring that has taken four years of arduous negotiations involving mountains of paperwork.
Negative views
Refinancing risks are weighing on Malaysian utility firm Ranhill’s rating, prompting Fitch to downgrade the stable outlook on its B corporate rating to negative. The agency also affirmed the B- senior unsecured rating on its outstanding US$220m nominal value 12.5% due 2011 issue.
Battle of the REITs: CIT squares up to MI-REIT..
Just when it thought it had bridged a S$300m (US$216m) funding gap and ensured its survival, MacarthurCook Industrial REIT faces the prospect that its proposed recapitalisation plan could be derailed by a rival trust.
Still talking
ASX-listed Macquarie DDR Trust said on March 5 discussions with lenders to extend debt maturities are progressing, but “there can be no assurance given that a successful outcome will be negotiated”.
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China Milk CB default
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Lenders approve restructuring scheme for Jaya
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Nod for a shrimp standstill
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Moving slowly
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Quedancor breaking down
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Arpeni jitters
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Share pledge dents Lumena ratings
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Virus-hit CPP gets a C
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Griffin Coal goes into administration
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Ingress gets second extension
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Garuda FRN vote postponed
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Arpeni pays up
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CPP prepares for restructuring
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Tata Steel completes largest CB exchange offer
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Arpeni's coupon
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Switching risk
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Arpeni misses the boat
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Filing a wind-up
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Fu Ji Food chooses wind-up over restructuring
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CB helps Amtek restructuring
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MNC faces potential cross-default
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G-Steel's missed coupon shakes investor confidence in Thailand
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Red Dragon restructuring fight gets personal
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Babcock restructuring talks