Pacific Radiance to sweeten the latest offer: observers

Singapore

PACIFIC Radiance has improved on its second proposal tabled this year for the restructuring of some S$100 million notes though noteholders still harbour hopes that the offshore support vessel (OSV)-focused group can further sweeten the latest offer.

The Business Times (BT) understands that about 30 out of some 200 holders of these outstanding notes attended Monday's informal meeting, which was called to convey the issuer's latest restructuring proposal. In February, a noteholders' consent solicitation exercise (CSE) convened by the company in support of its debt revamp that was still in the works failed to take off after facing pushback.