The offshore marine services company is raising SGD 100m ($80m) from the Singapore dollar denominated notes.

The bonds, which mature in October 2016, will carry a coupon of 5.55% per annum payable semi-annually in arrears.

Swiber also confirmed that local Singapore bank DBS is acting as the sole lead manager and bookrunner for the notes.

Net proceeds from the bond issue will be used for general working capital and for refinancing existing borrowings.

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