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EMAS Offshore seeks funds with debt issue programme

EMAS Offshore seeks funds with debt issue programme
Dual-listed EMAS Offshore is seeking fresh funds and set-up a SGD500m ($365m) multicurrency debt issuance programme on Thursday.

The company said the net proceeds from the programme will be used primarily for refinancing existing borrowings, capital expenditure and general corporate purposes.

EMAS Offshore has appointed Singapore’s DBS Bank as the sole arranger and dealer of the debt issuance programme.

“Application has been made to the SGX-ST (Singapore Exchange) for permission to deal in and quotation for any securities which are agreed at the time of issue thereof to be so listed on the SGX-ST,” EMAS Offshore said.

EMAS Offshore, formerly known as EOC Limited, has merged with EMAS Marine and completed their business combination deal in October last year.

The former EOC Limited was a spin-off from Ezra Holdings and EMAS Marine was Ezra’s offshore support services division.

EMAS Offshore was listed on the Singapore Exchange in October 2014 and it is also listed on the Oslo bourse since October 2007.