MTD Walkers PLC restructures debenture obligations

MTD Walkers PLC restructures debenture obligations

5 October 2018 06:23 am

MTD walkers PLC has restructured its debenture obligations.

MTD walkers had approximately Rs 2.1 billion outstanding on the debenture and Rs 149 million in interest payments. The company has paid due interest as per the existing trust deed.

The type A debenture interest rate has been increased from 9.75 per cent to 11.75 per cent, and type B debenture has been increased from 10.25 per cent to 12.25 per cent per annum up to maturity.

49.04 per cent of type A debentures has been purchased through Colombo Stock Exchange’s trading system for debenture holders who held more than 100,000 debentures.

Debenture holders who held 100,000 or less debentures have been offered buyouts in full. The remaining type A debentures have been extended for another 12 months.

MTD Walkers PLC is supported by NDB Investment Bank, the Bank of Ceylon Trustees and Nithya Partners.