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Modernland Realty, a property developer in Indonesia, is anticipated to default on its dollar-nominated bonds

31 lipiec 2020 | Cbonds

Currently, it has two outstanding notes: 10.75% 30aug2021 and 6.95% 13apr2024. Coupon payments are scheduled for August 30 and October 13, respectively. However, experts predict the company to struggle due to the lack of cash flows, which may trigger a restructuring process.

The company has hired an independent financial advisor and an international legal counsel to discuss its options and negotiate with bondholders.

Just recently, Modernland Realty finished the restructuring procedure on its domestic bonds. As it succeeded in negotiating with bondholders during 10-days of the grace period, this restructuring process didn't cause a default on the dollar debt.

Organizacja: Modernland Realty

Pełna nazwa firmyPT Modernland Realty Tbk
Country of riskIndonesia
Country of registrationIndonesia
IndustryBudownictwo i rozwój

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