Alam Maritim completes debt restructuring exercise

In a filing with Bursa Malaysia, the oil and gas services company said its wholly owned subsidiary Alam Maritim (M) Sdn Bhd had recently been awarded the contract that would be effective from Aug 30, 2018, and would expire five years thereafter.

KUALA LUMPUR: Alam Maritim Resources Bhd has entered into supplemental agreements (bilateral agreements) with its financiers to restructure existing debts in accordance to a proposed restructuring scheme.

In a filing with Bursa Malaysia today, the offshore service provider said general salient terms of the proposed restructuring scheme included repayment terms ranging from a one year to a seven year tenure facility commencing from the date of the bilateral agreements.