Tuesday, January 27, 2015

Singapore oilfield service firms struggle to refinance debt as oil slides

SINGAPORE (Jan 27): Two Singapore oilfield service firms are finding it tough to refinance debt maturing later this
year as the slump in crude prices has made investors and lenders hesitant, banking sources said.
Ezra Holdings has a S$200-million bond due in September while Swiber Holdings has a S$85-million bond due in June.
Even though the bonds are just five to eight months away from maturity, they are trading as much as 2-2.5 points below par, indicating the concerns around refinancing.

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