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INDONESIA'S APP CREDITORS AGREE TO DEBT RESTRUCTURING SCHEME.
(From Asia Pulse)
JAKARTA, Dec 7 Asia Pulse - After protracted negotiations, 93 per cent of the creditors of Asia Pulp & Paper (APP) agreed to restructure the debt of the company's Indonesian units.
With majority approval, the master restructuring agreement (MRA) will be fully effective as from Jan. 31, 2005, with payment of the first installment.
The MRA was already signed by a number of creditors on Oct. 30, 2003.
Singaporean-based APP has four subsidiaries in Indonesia: Indah Kiat Pulp and Paper, Pabrik Kertas Tjiwi Kimia, Pindo Deli and …
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