BLT halts payments

摘要

Pt Berlian Laju Tanker (BLT) has called a moratorium on its debt repayments; its shares have been suspended on the Indonesia Stock Exchange as a result. The 'debt standstill' has been prompted by a covenant breach under a loan facility granted to one of its subsidiaries, for which BLT is a guarantor. Furthermore, other BLT subsidiaries have also failed to make payments due under certain lease facilities, BLT admits.