Singapore's Swiber to default on coupon payment

Singapore's Swiber to default on coupon payment

Troubled Singaporean oilfield services firm Swiber Holdings said late on Friday it was unable to make the coupon payment for its 450 million yuan (S$92 million) fixed rate notes due on Sunday.

The company applied in July to place itself under judicial management, after initially filing for liquidation, becoming the largest local company to fall victim to the slump in oil prices.

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