Homepage
PR Newswire
10-07-2014, 08:15 AM
http://www.businesstimes.com.sg/premium/...s-20140710
PUBLISHED JULY 10, 2014
Goodpack fails to get waiver for Series 6 notes
Hitch not expected to disrupt acquisition by KKR
BYANDREA SOH
sandrea@sph.com.sg @AndreaSohBT
Mr Lam: He and his holding company have already put up irrevocable undertakings to vote in the deal's favour. - FILE PHOTO
LOCAL logistics packaging company Goodpack has succeeded in having the holders of all but one of its bonds agree to waiving certain conditions that would be non-compliant as a result of the acquisition by KKR.
Goodpack has had six series of notes under its $600 million multi-currency medium-term note programme established on June 18, 2010.
The proposed takeover bid by private equity firm KKR would have made some of the conditions in the notes non-compliant, as well as given rise to the occurrence of potential default events.
Goodpack, therefore, announced on May 28 that it had appointed DBS and OCBC to seek the consent of the relevant bondholders to waive these, as well as to amend the conditions to include an option for Goodpack to redeem all of the notes by giving not less than three days' notice.
PUBLISHED JULY 10, 2014
Goodpack fails to get waiver for Series 6 notes
Hitch not expected to disrupt acquisition by KKR
BYANDREA SOH
sandrea@sph.com.sg @AndreaSohBT
Mr Lam: He and his holding company have already put up irrevocable undertakings to vote in the deal's favour. - FILE PHOTO
LOCAL logistics packaging company Goodpack has succeeded in having the holders of all but one of its bonds agree to waiving certain conditions that would be non-compliant as a result of the acquisition by KKR.
Goodpack has had six series of notes under its $600 million multi-currency medium-term note programme established on June 18, 2010.
The proposed takeover bid by private equity firm KKR would have made some of the conditions in the notes non-compliant, as well as given rise to the occurrence of potential default events.
Goodpack, therefore, announced on May 28 that it had appointed DBS and OCBC to seek the consent of the relevant bondholders to waive these, as well as to amend the conditions to include an option for Goodpack to redeem all of the notes by giving not less than three days' notice.