PTPN’s missed payment raises fears about Indonesia support

By Pan Yue
02 Jul 2020

An Indonesian palm oil company has become the latest to fall victim to rising worries among loans bankers about government support. The company missed a payment last week, after bankers rejected an earlier covenant waiver request. Pan Yue reports.

Perkebunan Nusantara III (PTPN), a palm oil producer, has come under liquidity pressure this year. The firm sent out a payment deferral request for its $390.6m two year debut syndicated loan in May, asking lenders to accept the delay of an interest payment due that month and a ...

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