Creditors Agreed on Restructuring of Central Proteina Prima Bonds

By : Aldo Bella Putra | Monday, July 31 2017 - 15:40 IWST

5166 - Jakarta - The creditors agree to restructure the debt of PT Central Proteina Prima Tbk (CPRO) through the restructuring support agreement (RSA) scheme. The creditor is the majority of CPRO bondholders.

"The debt restructuring is conducted on the issuance of US $ 325 million bonds issued by Blue Ocean Resources Ltd, a subsidiary of CPRP, on June 28, 2007 and the amendment has been made on June 17, 2013," wrote Irwan Tirtariyadi, President Director of CPRO in his statement to the Stock Exchange Indonesia (BEI), Monday (31/07/2017).

Irwan revealed RSA has been distributed to all bondholders to be accepted and approved. The RSA aims to improve the company's cash flow situation.

"Debt restructuring is done to improve the financial and operational position, both for persereoan and its subsidiaries. The debt restructuring scheme is in the form of rescheduling and partial settlement of debt into shares," said Irwan. (Abraham Sihombing)

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