The Business Times
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Published Tue, Jan 21, 2020 · 09:50 PM

Pacific Radiance

DISCUSSIONS with a financier who was planning to extend at least US$180 million in new debt to Pacific Radiance have come to a halt. The offshore marine services firm, which is working on a debt restructuring plan, said the talks "stalled" due to "certain difficulties" which arose in the course of discussions.

The new debt and new equity via a placement were meant to finance Pacific Radiance's proposed acquisition of Allianz Marine and Logistics Services and repay existing debts.

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