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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (62797)1/29/2001 8:20:57 PM
From: Mark Adams  Read Replies (1) of 436258
 
Some more debt about to go up in smoke?

Singapore's Asia Pulp & Paper May Sell Assets to Finance Debt

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The company's bonds, mostly foreign currency debt, are widely held by hedge funds and other funds in the U.S. and Europe, and their creditors include banks around the world. So far, APP has serviced all of its debt on time, but under current agreements much of it will come due in the near future. Moreover, the market for its principal products, pulp and paper, is expected to weaken because of the slowing U.S. economy. And if the company were to default, the resulting restructuring would be complicated by both the size of its debt and the geographic range of its debtors.

APP, as the New York-listed company is known, has total borrowed debt of about $9 billion to $10 billion, according to recent company statements.

interactive.wsj.com
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