Swiber redeems maturing S$95m bond, easing investor concerns

Published Wed, Jun 10, 2015 · 03:59 AM

[SINGAPORE] Swiber Holdings has redeemed in full its S$95 million 6.25 per cent three-year bond due to mature on June 8.

An announcement on Monday said the redemption would not have a material impact on the company's net tangible assets or earnings per share for the financial year ending December 31 2015.

The redemption will put to rest some of the concerns of fixed-income investors over Swiber's ability to meet principal repayment obligations for this year.

Swiber also faces a call on its 9.75 per cent perpetual bonds due on September 25, but stated in early May that it planned to exercise the call option on the S$80 million issue.

At the same time, the offshore oil-and-gas services company had repurchased and cancelled S$750,000 of the perp securities in a show of commitment.

IFR Markets

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

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here