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O&M lessons for investors in high-yield perpetuals

Important to understand and be comfortable with the numbers before taking the plunge

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Debt-laden offshore and marine (O&M) companies that issued high-yield bonds have recently garnered unwanted attention. Less than half a year after offshore engineering firm Swiber Holdings went into judicial management, offshore vessel owner Swissco Holdings said in November that it would suffer the same fate after its lenders rejected debt restructuring proposals, from both the firm and an unnamed Chinese investor. Swissco and its subsidiary Swissco Offshore (Pte) Ltd have since filed for judicial management.

DEBT-laden offshore and marine (O&M) companies that issued high-yield bonds have recently garnered unwanted attention. Less than half a year after offshore engineering firm Swiber Holdings went into judicial management, offshore vessel owner Swissco Holdings said in November that it would

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