R.E.A. Holdings plans talks with 7˝% noteholders to extend maturity

By Marisa Wong

Los Angeles, Nov. 29 – R.E.A. Holdings plc said it intends to initiate discussions with holders of its 7˝% dollar notes due June 30, 2022 with the goal of obtaining approval to extend the bonds’ maturity date.

The company is looking to extend the maturity date by four years and to repurchase on the existing maturity date notes held by holders who do not wish to retain their notes for the extended period, according to a Thursday press release.

The company plans to pursue the noteholder talks after it completes refinancing arrangements with lender PT Bank Mandiri (Persero) Tbk.

London-based R.E.A. is engaged in the cultivation of oil palms and the production of crude palm oil and crude palm kernel oil in the Indonesian province of East Kalimantan.

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