"In previous discussions and correspondence with the trustee for the bondholders under the securitisation program relating to the TK1 Loan Facility, Wells Fargo Bank, NA (Trustee), the Trustee advised RAML that the amendments to the TK1 Loan Facility could be made with the approval of the Trustee, acting on the instructions of the majority of the controlling class of bondholders. However, in the finalization of the documentation, the Trustee has raised doubt as to whether in giving its consent, it must act on the instructions of the majority of the controlling class, or all bondholders, to enable the amendment to be made."
These guys can't do anything right. Surely this can be sorted out?
RJT Price at posting:
0.9¢ Sentiment: None Disclosure: Held
