[SINGAPORE] Singapore’s junk-bond market is suffering its worst rout in at least four years as debt restructurings spread among shipping and oil-and-gas service companies.
High-yield notes in the local currency from borrowers in Singapore slid 1.9 per cent last quarter, the most in an IHS Markit Ltd index going back to 2012. Rig and vessel chartering group Swissco Holdings Ltd added to the list of firms seeking to reorganise debt Tuesday.
It appointed Ernst & Young Solutions LLP to assist in the refinancing and restructuring of S$100 million of notes maturing in 2018, according to an exchange filing.
“The refinancing plan is to allow the company to have an optimised debt structure, with sufficient time to m…
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