Eitzen Chemical bondholders grant temporary waiver(Sep 11 2009) Eitzen Chemical has won an important decision to postpone loan repayments.
At a bondholders' meeting held on 8th September 2009, Eitzen Chemical obtained consent for a proposed temporary waiver of bond loan covenants.
This is in relation to the bond loan consisting of a US dollar tranche and a Norwegian kroner tranche, which the company proposed a temporary waiver until 1st October 2009 of certain loan covenants, including the value adjusted equity ratio.
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