BreadTalk seeks approval to waive breach of $100m notes

Submitted By:  Shaina Teope Case Study:  No It would like to change the Consolidated Tangible Net Worth covenant to not less than $50m. BreadTalk has commenced a consent solicitation exercise to seek the approval of noteholders in amending the agreements related to the company’s breach of financial covenants involving $100m 4% fixed rate notes that were due by 2023, said in its bourse filing. The consent solicitation is said to be by way of extraordinary resolution. read more