Brief: Falcon Energy Group To Embark On Complete Restructuring Of All Its Liabilities
18/01/2019 04:40
Jan 18 (Reuters) - Falcon Energy Group Ltd FEGL.SI :
* WILL EMBARK ON COMPLETE RESTRUCTURING OF ALL ITS
LIABILITIES
WHICH WILL INCLUDE OUR BANKERS, NOTEHOLDERS & UNSECURED
CREDITORS
* DISCUSSIONS WITH DIFFERENT STAKEHOLDERS ARE CURRENTLY
ONGOING
* INTENDS TO PROPOSE A CERTAIN AMOUNT OF CONVERSION OF NOTES
TO
ORDINARY EQUITY IN COMPANY
* CO WILL SUSPEND PAYMENT OF NOTES COUPON DUE ON 19 JANUARY
2019
* ALSO IN PROCESS OF DISCUSSING A RESTRUCTURING OF TERM
LOANS WITH
BANKERS
* CO HAS DECIDED TO SUSPEND THE TRADING OF ITS SHARES ON A
VOLUNTARY BASIS
Source text for Eikon: urn:newsml:reuters.com:*:nSNZb9Jk2z
Further company coverage: FEGL.SI
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