Brief: Swiber Holdings Judicial Managers Updates On Proposals

Swiber Holdings

07/05/2019 14:56

May 7 (Reuters) - Swiber Holdings Ltd  SWBR.SI :
    * JUDICIAL MANAGERS OF CO, SWIBER OFFSHORE CONSTRUCTION PTE
RECOMMEND CREDITORS TO VOTE IN FAVOUR OF RESTRUCTURING PROPOSAL
ON 29 MAY
    * NEW SWIBER GROUP INTENDS TO DIVERSIFY ITS BUSINESS TO
INCLUDE
PLANS FOR DEVELOPMENT OF A LNG-TO-POWER PROJECT IN VIETNAM
    * JMS ADDED THAT THEY HAVE CONSIDERED VARIOUS ALTERNATIVES
TO
RESTRUCTURING PROPOSAL
    * JMS SAID IN EVENT PROPOSED INVESTMENT FROM SEASPAN,
RESTRUCTURING IS NOT APPROVED BY CREDITORS, THEN ALTERNATIVE
WOULD BE LIQUIDATION
    * UNDER RESTRUCTURING PROPOSAL, CERTAIN SECURED CREDITORS
WILL BE
ISSUED REDEEMABLE CONVERTIBLE BONDS AMOUNTING TO US$120 MILLION

Source text for Eikon:  ID:nSNZ3CJSN0 
Further company coverage:  SWBR.SI 

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