The restructuring of Pacific International Lines (PIL) has been completed with a unit of Singapore’s sovereign wealth fund of $600m to save the SS Teo-led carrier, says an article published in Splash247.
Heliconia Capital Management
Heliconia Capital Management has bailed out Singapore’s largest liner company with funding coming in the form of loans.
Executive chairman of PIL
“The completion and successful implementation of our restructuring is a chance for renewal in PIL. Going forward, we will continue to improve our business operations, deleverage the balance sheet and reinvent ourselves as we adapt to the ever-changing market”, says Teo, PIL’s executive chairman.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source : Splash247
