JAKARTA : Bondholders of Indonesia's construction firm Waskita Karya have rejected a proposal to delay coupon and principal payments on notes worth the equivalent of $154 million due on Friday, the firm said in a stock exchange filing late Thursday.Trading of securities of the state-controlled firm at the
JAKARTA : Bondholders of Indonesia's construction firm Waskita Karya have rejected a proposal to delay coupon and principal payments on notes worth the equivalent of $154 million due on Friday, the firm said in a stock exchange filing late Thursday.
The company has been talking to creditors to restructure its debt, after its finances came under pressure after taking on big government-led infrastructure projects and the impact of the COVID-19 pandemic. However, the company got an approval to pushback by three months payments for coupons on its bonds maturing September 2023. The coupon payments were originally due June 28.The company had 21.24 trillion rupiah worth of short term liabilities as of end-March, its financial statement showed.
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