<article>Singapore-listed offshore oil and gas services provider <a style="color: #000080;" href="http://www.swiber.com/" target="_blank">Swiber Holdings</a> Monday said it had bought back about $750,000 worth of perpetual securities issued in September 2012.</article>

Singapore-listed offshore oil and gas services provider <a style="color: #000080;" href="http://www.swiber.com/" target="_blank">Swiber Holdings</a> Monday said it had bought back about $750,000 worth of perpetual securities issued in September 2012.
The company had issued $80 million, 9.75 per cent senior perpetual securities that year to fund expansion.
&#8220;Following the settlement, the repurchased securities will be cancelled, and the remaining outstanding aggregate principal amount of the securities following the cancellation of the repurchased securities would be $79.25 million,&#8221; it said in a regulatory filing.
Business media outlet, The Edge, in a report said that Swiber&#8217;s stretched balance sheet has long been a concern for investors, and added that &#8220;As at Dec 31, the company had net debt of $999.6 million ($1.33 billion), which was 1.5 times its equity, one of the highest for a Singapore-listed offshore and marine firm.&#8221;

Offshore oil and gas services provider Swiber Holdings Monday said it had bought back about $750,000 worth of perpetual securities issued in September 2012

SGX-listed Swiber buys back $750k perpetual securities

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SGX-listed Swiber buys back $750k perpetual securities

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