Singapore’s Pacific Radiance asks to extend moratoria related to ongoing debt restructuring

By Wendy Van Sickle

Columbus, Ohio, June 22 – Pacific Radiance Ltd. and subsidiaries Pacific Crest Pte. Ltd. and CSI Offshore Pte. Ltd. have applied to the High Court of the Republic of Singapore for extensions of existing moratoria related to their ongoing debt restructuring, according to an announcement on Wednesday.

The moratoria are set to expire after June 30.

Any party with objections to the moratoria extension applications may file an affidavit by 4 a.m. ET on June 29. The hearing for the extension applications is slated for 4:30 a.m. ET on July 4.

Drew & Napier LLC and KPMG Services Pte. Ltd. are the company’s debt restructuring legal and financial advisers.

Trading in the company’s securities on the SGX-XT has been suspended since Feb. 28, 2018.

Singapore-based Pacific Radiance owns and operates offshore vessels and provides subsea and shipyard services, equipment and logistics for the oil and gas industry.

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