Pacific Radiance Ltd. (SG:RXS) has released an update.
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Pacific Radiance Ltd. has announced the successful debt restructuring of its associated company, PT Logindo Samudramakmur TBK, with new loans totaling US$95.2 million. As part of the agreement, Pacific Radiance and its subsidiaries have guaranteed US$5 million and provided security over shares with no net book value. This strategic move is expected to prevent default and potential liquidation, ensuring financial stability for the borrower.
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