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O&M sector note issuers begin restructuring efforts sooner now

Market watchers applaud timelier action but also caution noteholders against hoping for full redemption


TWO Singapore-listed offshore-and- marine (O&M) players - Ezra Holdings and Swissco Holdings - on Tuesday called for noteholders' meetings in late October, just one day apart from each other, to seek waivers on covenants or restructure notes maturing in 2018.