Singapore

OFFSHORE and marine group Ezion Holdings has secured a US$1.5 billion lifeline from its six secured lenders, crossing another milestone in its months-long debt restructuring exercise.

The liftboat-focused company on Wednesday announced it has signed binding term sheets with DBS, OCBC, UOB, Maybank, CIMB and Caterpillar Financial for the refinancing package, which will stretch out over the next six years.