20 June 2018
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Company Briefs: Pacific Radiance

Straits Times
13 Jun 2018


Pacific Radiance

The Singapore High Court on Monday granted Pacific Radiance a six-month debt moratorium to give the offshore support vessel owner-operator time to restructure its debts.

The company is also required to submit to the Court a report on the valuation of its significant assets together with the affidavit in support of its intended application for a scheme of arrangement.

Pacific Radiance had said that the restructuring will involve a debt-to-equity swap proposal for holders of its $100 million, 4.3 per cent Series 001 notes due this year.

Source: Straits Times © Singapore Press Holdings Ltd. Permission required for reproduction.