PTPN seeks consent for debt restructuring

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By Pan Yue
09 Jul 2020

Indonesia’s Perkebunan Nusantara III (PTPN) is seeking lenders’ go-ahead for a debt restructuring plan, after missing the principal payment on a $390.6m loan at the end of June.

The palm oil producer is aiming to complete the debt restructure by the end of September, and will postpone the principal payment, according to three bankers close to the situation. However, PTPN did not make clear when it plans to pay back the principal.

Bankers said the company ...

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