Swiber, Pacific Radiance up next for debt revamp

Singapore

BANKS have cracked on with restructuring of the outstanding loans on the highly-geared balance sheets of listed companies Swiber Holdings and Pacific Radiance.

The pair of listed offshore and marine (O&M) players are said to be the next in line for refinancing consideration after banks here helped bail out Ezra Holdings' then expiring bond issue in March.

The Business Times understands one option under consideration calls for extending the repayment tenure of the bank loans to as long as 15 years, up from the five to eight-year average.

This proposal will help tide the O&M players through a protracted down-cycle that is clouding their chanc…