Chandra Asri fails to sign debt restructuring deal
Thursday, February 21 2002 - 02:25 AM WIB
Petrochemical giant PT Chandra Asri Petrochemical Center (CAPC) failed on Wednesday to sign a restructuring deal over some US$1.2 billion debt owed to the government and Japan?s Marubeni Corp., the Bisnis Indonesia daily reported.
The paper quoted a source as saying that CAPC management was not yet ready to sign the deal because not all of its board of directors have complete reading the term sheet.
The government via the Indonesian Bank Restructuring Agency, and Marubeni were supposed to formally sign the long-awaited debt restructuring deal on Wednesday. (*)