Ezion secures US$1.5 bil refinancing package in final leg of restructuring exercise

SINGAPORE (Feb 7): Offshore & marine group Ezion Holdings says it has secured refinancing totaling to approximately US$1.5 billion ($2 billion) from its six secured lenders, namely: DBS, OCBC, UOB, Maybank, CIMB and Caterpillar Financial.

Group CEO Chew Thiam Keng and his family members have also offered 100 million of their personal shares in total to cement support from the secured lenders.

The refinancing package includes an aggregate of up to US$118 million in additional revolving credit facilities, as well as minimal fixed principal repayments over the next six years and decreased interest rates for the facilities.

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