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Swiber in $100M debt finance


Published Mar 31, 2008
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Swiber barge work

Singapore-based offshore contractor Swiber Holdings Ltd. has raised S$100 million on the local bond market in an attempt to reach expansion goals in a tight credit market.

“The succes of this bond isue underscores Swiber’s credit strength andinvestors’ warm reception to SGD-denominated bonds in the oil and gas services sector which are scarce in supply,” OCBC Bank capital markets boss Tan Lay Hoon said in a statement.

The bonds mature in three years and carry and interest rate of 4 percent per year. Swiber issued floating and fixed rate tranches in the bond issue.

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