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Published on 12/1/2021 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

Indonesia’s Pan Brothers updates on scheme of arrangement

Chicago, Dec. 1 – PT Pan Brothers Tbk. gave an update on its proposed scheme of arrangement, according to a notice.

The scheme relates to holders of PB International BV’s $200 million 7 5/8% senior notes due 2022 (ISIN: XS1555631925) and a revolving credit facility of up to $150 million.

The chairman has adjudicated the proofs of debt submitted by scheme creditors (other than noteholders).

Noteholders were not required to submit a proof of debt.

Copies of the scheme document can be obtained by request from the information agent.

The scheme document and an explanatory statement are available for download from the information agent’s website and questions can be directed to the information agent (+852 2319 4130, +44 20 4513 6933, 203 609-4910, panbrothers@investor.morrowsodali.com, https://bonds.morrowsodali.com/PanBrothers).

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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