PTPN’s missed payment raises fears about Indonesia support

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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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