Singapore’s Ezra to seek fresh capital to weather slump

SINGAPORE: Singapore’s Ezra Holdings Ltd, seeking to weather a slump in the offshore marine services industry, is evaluating ways to strengthen its capital structure, people with knowledge of the matter said.

The company is working with a financial adviser to find investors for about US$100mil of new stock, the people said, asking not to be identified as the process is private. It is also seeking to term out more than US$100mil of its loans and bonds, as it tries to ease a short-term financing strain in part by extending its debt maturities, one of the people said.