The company said it is seeking assistance in the refinancing and restructuring of the S$100 million 5.7% notes due in 2018.
Swissco said it is not able to pay the interest due on the notes on 16 October 2016.
Trading in the company's shares has been suspended while it works on a debt restructuring plan.
Meanwhile, X-Drill Holdings has commenced legal proceedings in the US District Court and a warrant of attachment has been issued against the SE83 drilling rig.
The
