[SINGAPORE] Cracks are showing in South-east Asia's credit markets as struggling companies in troubled industries seek to repair their balance sheets, according to Rajah & Tann Singapore LLP, which manages the largest network of corporate lawyers in the region. Read more at The Business Times.
[SINGAPORE] Cracks are showing in South-east Asia's credit markets as struggling companies in troubled industries seek to repair their balance sheets, according to Rajah & Tann Singapore LLP, which manages the largest network of corporate lawyers in the region.
"We are increasingly being asked to review security and loan documents and advise on enforcement options, with financiers being keen to make sure the ducks are in a row," said Danny Ong, a partner in charge of dispute resolution practice, citing recent instructions and mandates from clients."This has led to us ramping up our internal resources in anticipation of more distress events.
South-east Asian companies must repay US$17.9 billion of dollar-denominated bonds this year, with that amount rising to US$23.2 billion in 2023, according to Bloomberg-compiled data.
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