Charisma Energy Services (SG:5QT) has released an update.
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Charisma Energy Services has entered into a convertible loan agreement with Cosmic Marvel International and Yin Khing Investments to restructure existing debt of up to S$21.1 million. This move involves capitalizing S$10.9 million of the debt through the issuance of subscription shares. The agreement aims to improve the company’s financial stability, attracting attention from investors keen on debt restructuring in the energy sector.
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