Swiber says it is unable to pay upcoming coupon payment for fixed rate notes due 2017
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BELEAGUERED offshore marine group Swiber Holdings has announced that it is unable to pay the upcoming coupon payment for the Series 017 450 million yuan (S$92 million) 7.75 per cent fixed rate notes due 2017 issued pursuant to the company's S$1 billion multicurrency debt issuance programme due on Sept 18, 2016.
It said this in a filing to the Singapore Exchange (SGX) late on Friday night.
This follows an earlier update on Friday evening that claims received by Swiber Holdings were at US$231.4 million as at Sept 15, up slightly from a week ago, when they were at US$230.7 million.
Swiber's interim judicial managers had then said the company is currently seeking legal advice on the above claims.
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