Radiance raises funds

Singapore-listed Pacific Radiance has issued $100m-worth of 4.3% fixed-rate notes for future investments.

The sale was conducted under its $1bn multi-currency debt issuance programme, which commenced two weeks ago.

The notes are due in 2018.

Net proceeds will be used for capital expenditure, investments and the refinancing of existing borrowings, the offshore vessel owner said.

Pacific saw its profit for the first quarter reach $17.3m, more than double compared to the corresponding period in 2013.

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