“The strong support and confidence from investors underscore the progress we have made in strengthening our financial position and enhancing our credit profile,” says Seatrium CFO Stephen Lu. “We remain committed to prudent financial management and to building enduring partnerships with the capital markets as we continue to advance Seatrium’s growth agenda.”
Seatrium notes that the notes diversifies its funding sources, enhancing financial flexibility as it executes its “robust” order book while maintaining disciplined capital allocation.
The proceeds will mainly be used to refinance existing borrowings, support working capital and capital expenditure requirements and/or other general corporate purposes.
Shares in Seatrium rose six cents or 2.6% to close at $2.40 on April 28.
