Ezra seeks consent to amend terms of S$150m of 4.875% notes due 2018


EZRA Holdings is seeking bondholders’ consent to amend the terms of S$150 million in principal amount of 4.875 per cent notes due 2018 to avoid any potential covenant breaches or default.

The oil and gas contractor is offering a consent fee of 0.1 per cent for noteholders who accept their proposal on or before Nov 2, 2016. Those who accept the proposal after the early-consent deadline will receive a consent fee of 0.05 per cent.

An extraordinary general meeting for bondholders will take place on Nov 9.

Ezra said that the consent solicitation is necessary to avoid any non-compliance with the terms of the notes as it explores options to address its various financial obligations and strengthen its financial position.




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