Ezra funds up to take advantage of opportunities

Close on the heels of its recent issue of three-year SGD200m fixed rate notes, Ezra said it has raised another SGD150m from issuing perpetual securities, Seatrade Asia online reports.

This issue, along with the earlier debt issuance, was drawn from the group’s recently established $500m Debt Issuance Programme

The raising exercise strengthens balance sheet and improves Ezra’s debt maturity profile, the company said. The net proceeds of both issues will be used to refinance the group’s existing borrowings, as well as for general working capital and general corporate purposes.

Ezra’s managing director Lionel Lee said: “By diversifying our sources of funding and extending our debt maturity profile, it positions the group well ahead of any global uncertainties and allows Ezra to take advantage of the many opportunities we see in subsea construction and offshore support services.”