It’s an important day for investors who oppose the plan like Singapore businessman Kuah Ann Thia, an unsecured noteholder –the most vulnerable in the bond world. He and other individual investors hold parts of PIL’s S$60mil security (US$45mil) that came due in November but which the shipper hasn’t repaid.
SINGAPORE: Creditors to struggling Singapore shipper Pacific International Lines Pte (PIL) will vote soon on a restructuring deal that involves a capital injection from a unit of Temasek Holdings Pte.
It’s an important day for investors who oppose the plan like Singapore businessman Kuah Ann Thia, an unsecured noteholder –the most vulnerable in the bond world. He and other individual investors hold parts of PIL’s S$60mil security (US$45mil) that came due in November but which the shipper hasn’t repaid.
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