Hyflux Gets Six Final Offers With One Covering Retail Investors
May 04 2021, 7:02 PM
May 04 2021, 11:40 AM
May 04 2021, 7:02 PM
(Bloomberg) Crisis-hit Singaporean water-treatment company Hyflux Ltd. has six final offers including one to restructure the entire firm, after an April 30 target for finalizing binding term sheets, a person familiar with the matter said.
(Bloomberg) Crisis-hit Singaporean water-treatment company Hyflux Ltd. has six final offers including one to restructure the entire firm, after an April 30 target for finalizing binding term sheets, a person familiar with the matter said.
The restructuring bid is the only offer that takes into account retail investors in Hyfluxâs perpetual securities and preference shares, according to the person, who asked not to be identified because the matter is private.
(Bloomberg) Hyflux Ltd., which was put under judicial management in November last year, will be fielding several possible bids in the months ahead as it tries to avoid running out of money.The Singaporean water-treatment company currently has at least seven non-binding offers from potential investors, according to two people familiar with the matter. It needs to move fast: the firm had S$18.4 million ($13.8 million) of cash as of Jan. 31, enough to survive five months from that date, the people said, asking not to be identified because the matter is private.The suitors have shown interest in Hyflux as a whole or for some of its assets, but the bids have varying degrees of complexity and many need additional clarification, the people said.Patrick Bance, a Singapore-based director at Hyflux’s judicial manager Borrelli Walsh, declined to comment.Once a corporate highflyer, Hyflux is Singapore’s most high-profile debt-restructuring case that has dragged on since a court-sup