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Ley Choon enters debt restructuring agreement with lenders

Jude Chan Published on Mon, Sep 26, 2016 / 8:33 AM GMT+8

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SINGAPORE (Sept 26): Ley Choon Group Holdings on Monday announced it has entered into a debt restructuring agreement with its lenders.

The agreement will provide a mechanism for the repayment of current and future project proceeds to lenders, Ley Choon said in a statement to SGX.

Lenders who have existing securities over earnings from the group’s ongoing projects shall release current and future project proceeds into the group’s operating bank accounts, subject to the terms of the agreement.

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