Indonesia’s Pan Brothers will hold restructuring noteholders’ meeting

Chicago, Aug. 5 – PT Pan Brothers Tbk. invited noteholders to a meeting on Aug. 12 at 4 p.m. ET, according to an announcement.

The company wishes to update noteholders about a potential restructuring plan as it relates to holders of PB International BV’s $200 million 7 5/8% senior notes due 2022 (ISIN: XS1555631925).

To participate, noteholders should submit identifying information to AJCapital Advisory by 5 a.m. ET on Aug. 11.

The meeting will be held via Zoom. Details will be provided by 9 a.m. ET on Aug. 11 to noteholders who successfully register for the event.

There will be a question-and-answer session at the end of the meeting, after the update.

The group would also like to inform noteholders that an ad hoc committee of noteholders has been established and noteholders should consider engaging with the ad hoc group to evaluate any restructuring proposal.

The ad hoc committee has appointed Alvarez & Marsal as its financial adviser and Clifford Chance as its legal adviser. Noteholders who wish to contact the ad hoc committee can email pbrx@alvarezandmarsal.com.

PT AJCapital Advisory is the restructuring adviser for the company (Geoff.simms@ajcapital.co.id).

Baker McKenzie is providing legal counsel (Emmanuel.hadjidakis@bakermckenzie.com).

Pan Brothers operates in the garment and textile industries and is based in Tangerang, Indonesia.

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