Seismic shocks have hit Singapore’s maritime bond market in the eight months since the collapse of Swiber Holdings, and led to questions about its future.
The country’s investors had seen no bond defaults since 2009, but then, like a series of London buses, three offshore companies defaulted in quick succession.
Swiber, which had S$460m ($324m) worth of bonds outstanding, was soon followed by Malaysia’s Perisai Petroleum Teknologi and Swissco Holdings.
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