Reorg Credit Intelligence – 5/10/2021
Modernland Noteholders Seek 100% Asset Coverage Over New Notes
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Indonesian real estate developer PT Modernland Realty Tbk (MDLN) today, May 7, scheduled a call with noteholders of its $150 million guaranteed senior notes due 2021 and its $240 million guaranteed senior notes due 2024, with the discussion being centred on additional security collateralising the new notes, a higher rate of asset sales redemption to be carried out by 2023 and 2024, as well as a shorter maturity extension — in particular for the due 2024s. Read our full update on the situation here: https://reorg.com/update-1-modernland-noteholders-seek-100-asset-coverage-over-new-notes/
Contact: Matt Danese
mdanese@reorg.com
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