Aqua Munda commits $208m to buy Hyflux's debts

It will also be used for funding the water treatment firm’s capital requirements.

Aqua Munda has committed $208m to fund in buying the embattled water treatment firm Hyflux’s debts from its noteholders and creditors, according to a press release. The firm also extended the deadline for submission of bids from 23 January to 31 January.

The acceptance deadline has also been revised to 3 April. The funding could also be contributed to Hyflux’s working capital requirements.

The funding will also be used for Hyflux’s working capital requirements, if agreed.

This follows after the water firm received an offer from Aqua Munda to buy a portion of its creditors’ debts amounting to about $1.8b last 19 December.

The investor sent an invitation memorandum on 27 December 2019, inviting holders or beneficial owners and creditors holding Eligible Debts to tender their respective Eligible Debts for purchase by Aqua Munda. Interested foreign noteholders were asked to provide an address in Singapore by 27 January.