Singapore’s Pacific International Lines (PIL) has received between $100m and $110m in interim funding from Heliconia Capital Management, an arm of Singapore state-backed investment company Temasek Holdings.
“We can confirm that a deal has been reached for interim funding that would allow the company to meet its most urgent operational needs,” PIL said
PIL, which is undergoing financial restructuring, was reported last month to have also secured about $400m in loans from Heliconia to help it ease its immediate cask flow issues.
