Pacific International Lines (PIL) is looking to extend the maturity of a bond due to be redeemed next year in return for a slightly higher coupon.
The private Singapore shipowner has proposed an intermediated exchange offer for its SGD 130m ($95m) 7.25% notes to mature in 2018.
PIL then plans to issue a third series of notes due 2020 under its SGD 1bn multi-currency medium term note programme.
