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Swiber buys back another tranche of perpetual securities

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Marine firm Swiber Holdings has repurchased an additional S$250,000 of the senior perpetual securities it had issued in September 2012.

MARINE firm Swiber Holdings has repurchased an additional S$250,000 of the senior perpetual securities it had issued in September 2012.

The latest repurchase, done in the open market, was settled on Tuesday, and the repurchased securities will be cancelled.

Including the earlier repurchases, the outstanding aggregate principal amount of the securities stands at S$77.25 million.

In 2012, Swiber had issued S$80 million of the securities at a coupon rate of 9.75 per cent to raise funds for expansion.

The counter closed unchanged on Tuesday at 16.2 Singapore cents.