Swiber fails to redeem $114m bond issue

Swiber

Bankrupt Singapore offshore company Swiber Holdings has failed to redeem a SGD160m bond issue.

Swiber, which is under court mandated judicial management, said it had been unable to redeem the SGD160m ($114.49m) note issue due on 18 April 2017. It also missed the coupon payment on the 7.125% fixed rate note issue.

Swiber was placed under judicial management on 3 August last reversing an earlier to file for winding-up.