Perisai Bondholders Reject Oil Rig Contractor’s Proposal
- Perisai had proposed to extend maturity on bond due Monday
- Company discussions with bond investors collapsed last week
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Perisai Petroleum Teknologi Bhd., a Malaysian offshore oil rig contractor, failed to convince a group of bond investors to agree to its debt restructuring plan.
More than 70 percent of investors who voted on Monday rejected the company’s proposal to extend the maturity of the bond to Feb. 3, 2017, according to Cheng Fong Kiew, a bondholder present at the meeting.