Arpeni Dollar Bondholders Complete Exchange in Bankruptcy Case
U.S. dollar bondholders involved in PT Arpeni Pratama Ocean Line (APOL)’s bankruptcy case received new notes or cash in exchange for their $141 million in debt, according to Robert Schmitz, Asian head of debt advisory and restructuring at NM Rothschild & Sons Ltd. said.
The Jakarta-based shipping company has been in a $640 million two-year long bankruptcy, said Schmitz, who is advising the firm on the case. Arpeni also completed a $75 million rights offer yesterday, according to Schmitz.
A call to Arpeni company secretary Ronald Nangoi today seeking comment on the exchange went unanswered.
To contact the reporter on this story: Tanya Angerer in Singapore at email@example.com