Sapura Energy debt restructuring gets financiers approval

KUALA LUMPUR: Sapura Energy Bhd said at least 75 per cent of its financiers from its RM10.3 billion multi-currency financing facilities (MCF financiers) have approved in principle a proposed debt restructuring scheme.

In a statement today, the company said the corporate debt restructuring committee (CDRC) gave a "written confirmation” on the matter, marking "a significant milestone” in its reset plan, which includes efforts to address its unsustainable debt levels and amounts owed to trade creditors.