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MANUFACTURING | Staff Reporter, Singapore

Pacific Andes in legal tussle with HSBC over alleged bond breach

It failed to fulfill certain obligations.

The Hongkong and Shanghai Banking Corporation is accusing Singapore-listed Pacific Andes of breaching certain obligations of its $200m notes due 2017.

In a regulatory filing, Pacific Andes said that it has received a letter from HSBC, the bond’s trustee.

Pacific Andes said that it is currently seeking legal advice in relation to the letter. The company is also “ in an active dialogue with a substantial holder of the Bonds” to establish transparency, the company said.

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