Sarawak Cable signs debt restructuring agreements with financiers, facility agent

KUALA LUMPUR, Jan 7 — Sarawak Cable Bhd (SCB) has entered into agreements and mutually formalised further definitive terms to the RM124.59 million debt restructuring proposal with its financiers and facility agent.

The financiers include AmBank (M) Bhd, Bank Muamalat Malaysia Bhd and Hong Leong Islamic Bank Bhd.

“SCB had also entered into an Assets Sharing Agreement with the financiers and Universal Trustee (Malaysia) Bhd,” it said in a filing with Bursa Malaysia today.

On the rationale of debt restructuring, SCB further said that the exercise would enable SCB to address its debt obligations by restructuring the outstanding debt to financiers and allowing SCB more time to repay its outstanding debts. — Bernama