Singapore offshore shipping company Vallianz Holdings has clinched a refinancing of some of its debt worth $163.2m.
The repayment period will be stretched to December 2022, ie 8.2 years from an average of 5.8 years previously.
Banks have been given a security package over the shares of certain subsidiaries of the company, as well as certain fixed assets.
The deferments will ease the company's cash flow by $103.5m
