Sri Lanka’s MTD Walkers says expects to pay defaulted bond interest in April
ECONOMYNEXT – Sri Lanka’s MTD Walkers Plc, a troubled construction firm said it expects to pay defaulted interest on it unsecured debentures by April 30.
The publicly traded firm had earlier said in a filing it would pay interest by March31.
"However due to slowdown in fund flows from government projects, we are unable to make this payment on the stipulated date," MTD Walkers said in a stock exchange filing.
"Therefore we are expecting to make this payment on or before 30th April 1, with penal interest rate of 2 percent as per the trust deed."
The firm sold 3.0 billion rupees of bonds in September 2015. (Colombo/Apr02/2019)