Singapore's Marco Polo Marine seeks to delay bond payments

Marco Polo Marine

14/09/2016 05:16

SINGAPORE, Sept 14 (Reuters) - Singapore's Marco Polo Marine 
Ltd  MAPM.SI , whose business includes building and chartering 
ships, said it was seeking consent from bond holders to extend 
the maturity of notes worth S$50 million ($37 million) that are 
due next month. 
    The company held an informal meeting with the noteholders to 
present an independent business review conducted by KPMG and to 
explore various options related to the impending maturity of the 
notes, it said in a statement on Tuesday.  urn:newsml:reuters.com:*:nL3N1BJ3Y7 
    The noteholders present at the meeting appeared generally 
supportive of the company's initiative, it said. 
    Marco Polo is one of several companies in Singapore's 
offshore and marine sector whose financial results have been hit 
by the slump in oil prices. 
    ($1 = 1.3657 Singapore dollars) 
 
 (Reporting by Aradhana Aravindan; Editing by Edwina Gibbs) 
 ((aradhana.aravindan@thomsonreuters.com; +65 6403 5659; Reuters 
Messaging: aradhana.aravindan.thomsonreuters.com@reuters.net)) 
 
Keywords: MARCO POLO DEBT/