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Swiber defaults on its bond coupon payout due on March 20

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SWIBER Holdings is unable to pay the upcoming coupon payment on its bond due on March 20, 2017, the company said in a SGX filing on Tuesday evening.

SWIBER Holdings is unable to pay the upcoming coupon payment on its bond due on March 20, 2017, the company said in a SGX filing on Tuesday evening.

The bond it was referring to is the Series 017 450 million yuan (S$92 million) 7.75 per cent fixed rate notes due 2017 issued pursuant to the company's S$1 billion multi-currency debt issuance programme.

This comes soon after it said on March 7 that its court-appointed judicial managers have filed applications for extension until July to send to creditors a statement of proposals and summon a creditors' meeting.

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