Singapore’s Seatrium to redeem S$500 million floaters on May 27

By Mary-Katherine Stinson

Lexington, Ky., April 26 – Seatrium Ltd. will fully redeem the S$500 million floating-rate bonds due 2026 issued by Seatrium Offshore & Marine Ltd. (formerly known as Keppel Offshore & Marine Ltd.), according to a notice.

The bonds will be redeemed at par plus interest on May 27 and subsequently will be canceled.

The bonds’ early redemption is part of the company’s proactive capital management efforts to optimize its borrowing cost and debt profile, the release noted.

Seatrium, formerly SembCorp Marine, is a Singapore-based company providing engineering solutions to the global offshore, marine and energy industries.

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