Utico said it has upped its proposed rescue package to a minimum of S$485 million comprising cash and stock, details of which were sent to Hyflux and all creditor parties.
UNDER the latest proposal, the return to both the unsecured senior creditors and the retail investors of Hyflux’s preference shares and perpetual securities will be “more than 10 per cent” higher than what had been available under the restructuring agreement inked on Nov 26 last year.
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