Falcon Energy has obtained majority consent from bondholders to extend the maturity of a bond that was due to mature this week.
The Singapore-listed company’s SGD 50m 5.5% note, which was due on 19 September 2017, will now mature in 2020.
Investors holding some SDG 42m in principal amount, or 84% of the outstanding notes, approved several resolutions at a recent bondholder meeting.