Thursday, April 7, 2011

Lion Corp seeks to defer repayment of remaining bonds, loan stocks

KUALA LUMPUR: Lion Corp Bhd is seeking the approval from the lenders to defer the repayment of its bonds and the coupon on loan stocks from April 30 to July 31.

It said on Thursday, April 7 that it had issued notices of meetings dated April 6, to the holders of the bond, US dollar debts and redeemable convertible secured loan stocks (RCSLS) which it had issued.

The deferment involved the redemption of the outstanding nominal value of the Lion Corp B(a) bonds, class B (b) bonds amounting to RM54.35 million; repayment of the outstanding nominal value of the B debts amounting to US$100,000.

It also sought the deferment on the payment of the coupon on the class B(a) RCSLS, class B(b) RCSLS and Class B(c) RCSLS amounting to RM26.97 million.

Lion Corp said the meeting of the lenders was scheduled to be held on April 26, 2011.

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