Singapore's Otto Marine calls meeting of holders of notes due 2013

By Angela McDaniels

Tacoma, Wash., Dec. 1 - Otto Marine Ltd. subsidiary Otto Marine Services Pte. Ltd. is asking the holders of its S$100 million of 4.845% fixed-rate notes due 2013 to vote on proposed amendments to the trust deed for the notes, according to a company announcement.

Holders will vote at a meeting in Singapore on Dec. 17.

If approved, the proposed amendments would delete some clauses and conditions and the definitions of EBITDA and interest expense.

Singapore-based Otto Marine constructs, charters and leases vessels.

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