Ezra seeking approval from noteholders on resolutions

Singapore

EZRA Holdings has launched a consent solicitation in relation to two series notes due 2016 and 2018.

The company is convening meetings with noteholders of each series, seeking approval on certain resolutions.

These resolutions are to align key financing covenants to a form consistent with unit Emas Offshore's multi-currency debt issuance programme and within the group, update the consolidated Ebitda (earnings before interest, taxes, depreciation and amortisation) to consolidated interest expense ratios to reflect the structure of the group after the set-up of a subsea services joint venture; and to provide the …