Falcon aims to extend 5˝% notes by three years, sets fourth meeting

By Susanna Moon

Chicago, Aug. 4 – Falcon Energy Group Ltd. is looking for a three-year extension on its S$50 million of 5˝% series 001 notes due Sept. 19, 2017.

At the third informal meeting held Friday, Falcon also told noteholders that it plans to seek to amend interest rates and to waive all note covenants by way of a consent solicitation, according to a company notice on Friday.

The company said it has scheduled the fourth informal meeting to be held Aug. 11 on a ‘without prejudice’ basis.

Noteholders who want to attend the meeting may send an e-mail to the company at slwong@feg.com.sg.

As announced May 31, the company hired KPMG Services Pte. Ltd. as an adviser to conduct the independent business review.

The company also advised investors to exercise caution in trading their shares and notes.

Falcon is an investment holding company based in Singapore that provides services to oil companies and contractors worldwide.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.