More offshore & marine firms may seek equity lifeline soon
More cash calls expected from those with high debt levels but bond route is seen as prohibitive
Singapore
MORE cash calls from smaller offshore and marine (O&M) firms with high debt levels could be on the cards as their funds dry up amid a crude oil slump and persistent oversupply of offshore support vessels (OSVs).
In particular, OSV owners Otto Marine, Swiber and Marco Polo Marine are likely to be among the next few companies heading to the market with hat in hand, brokerage KGI Fraser said in a report on Monday.
These companies are likely to only be able to tap equity markets rather than bond markets due to prohibitively high bond yields - following in the footsteps of Ezra Holdings which recently announce…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million