Perisai in talks with potential financier, hopes for deal on S$125m of overdue notes

EZRA Holdings associate company Perisai Petroleum Teknologi is in talks with a financial institution to secure financing that may pave the way for a deal on S$125 million of 6.875 per cent unsecured notes that came due on Oct 3, Perisai announced on Wednesday after the market closed.

Bondholders of Perisai, an oil and gas contractor, on Oct 3 rejected a proposal by the issuer to restructure the notes. In announcing the bondholders' rejection at that time, Perisai said it had received an indicative offer of financing, which included a US$20 million amount earmarked for the noteholders.