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Swiber not able to pay coupon, redeem principal of medium-term notes
SWIBER Holdings is unable to redeem the principal or pay the coupon for some S$160 million of outstanding medium-term notes, its judicial managers said after the market closed on Wednesday.
The principal sum of the notes matured on April 18, 2017. These notes are issued under Swiber's S$1 billion multi-currency debt issuance programme.
They are pegged to a fixed interest or coupon rate of 7.125 per cent.