Singapore's Ezra arranges $500 million multicurrency debt program

By Toni Weeks

San Diego, Aug. 28 - Ezra Holdings Ltd. announced it has established a $500 million multicurrency debt issuance program with HSBC Ltd. as arranger and dealer and DBS Bank Ltd. as an additional dealer.

Under the program, the company may issue notes and senior or subordinated perpetual securities from time to time in any currency. The notes may be issued in various amounts and with various tenors and may bear interest at fixed, floating, variable, hybrid or zero rates. The perpetual securities may be issued in various amounts, may bear fixed or floating rates of distribution and have no fixed maturities.

Net proceeds will be used for refinancing existing debt, capital expenditures and general working capital and corporate purposes.

Ezra is a provider of offshore support for the oil and gas industry and is based in Singapore.

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