Mermaid Maritime establishes $500m note programme

Singapore-listed Mermaid Maritime Public Company Limited said it had established a $500 million multicurrency debt Issuance programme, and has hired Credit Suisse Limited and DBS Bank Ltd. to manage the exercise.

The net proceeds arising from the issue of the will be used for general corporate purposes, including refinancing of existing borrowings, and financing of working capital investments and capital expenditure requirements of the Issuer or its subsidiaries,” the company, which provides subsea and drilling services to national and international oil companies, said in a regulatory filing.

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