Zetrix AI fails to resolve RM2bil sukuk breach, offers 789mil share options
KUALA LUMPUR: Zetrix AI Bhd has failed to reach an agreement with its sukukholders over a covenant breach involving its RM2 billion sukuk programme, prolonging uncertainty over the company's debt obligations.
KUALA LUMPUR: Zetrix AI Bhd has failed to resolve a RM2 billion sukuk covenant breach, prolonging uncertainty over the company's debt obligations. The technology group offered nearly 789 million share options at a 28% discount to its closing share price of 7.5 sen. No resolution was reached at today's sukukholders meeting, with another date yet to be set.
The discussions occurred after the Oct 22 deadline to remedy the breach, triggered by forced share sales by banks. Zetrix AI owes RM2 billion in principal and will make RM164.5 million in future coupon payments.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
