Ezra and Swiber upbeat despite bond price fall

Singapore

EVEN as bond prices for offshore marine players have fallen in tandem with crude oil prices, the hardest hit - Swiber and Ezra - are confident about their ability to refinance the debt and the continued support from their banks.

Meanwhile, the spillover effects to other corporate bonds are likely to be negligible, said industry observers.

With crude oil prices falling some 40 per cent since June, the price for Ezra's perpetual bonds issued in 2012 has fallen to 92.375 cents on the dollar.

For Swiber, the tumble has been rougher, with its perpetual bonds issued the same year plunging to 89.665 cents.…