The bondholder committees steering group, which represents about 1.7bn ($2.8bn) of APPs 9bn debt, expressed severe concerns about recent developments in the companys debt restructuring programme.
The work-out process is being led by the Indonesian Bank Restructuring Agency (IBRA), and the bondholders were worried that the deal didnt include sufficient measures to ensure that the Widjaya family, APPs founding shareholders, stuck to the repayment terms of any agreement.
Have your say in the Printweek Poll
Related stories
Latest comments
"And here's me thinking they bought the Docklands Light Railway."
"15 x members? Why don't they throw their lot in with the Strategic Mailing Partnership (SMP) and get a louder voice?"
"Some forty plus years ago I was at a "sales" training seminar and got chatting to the trainer after the session had finished.
In that conversation he told me about another seminar he had..."
Up next...
29% say quick turnaround work best growth area
Printers see opportunity in quick turnarounds and web-to-print
Commitment to developing talent recognised
Apprenticeship award for Coveris
2024 saw a sharp rise in response rates
JICMail data reveals growth in customer acquisition through mail campaigns
Scottish group has international ambitions