Oceanteam Secures Majority Nod to Refinance Its Current Bond Loan

Norwegian-Dutch offshore service provider  said it has reached an agreement with a qualified majority of its bond holders on the main terms of the bond loan concerned.

The agreement encompasses the repayment of the bond in full, the extension of the loan maturity and a major adjustment of interest costs concerned. However, it does not include any equity offering.

As announced earlier this year, both the company and its bondholders have also agreed that the upcoming proceeds from the sale of shares in the company’s vessel North Ocean 105 will go towards repayment of vendors and of secured lenders of Oceanteam.

“The progress and developments made so far including the continued support provided by the Halbesma family as main shareholders, show the commitment and strong belief in the future success of Oceanteam. It will allow the company to further develop its current market activities, to take advantage of new business opportunities and allow us to build long-term value for the benefit of all Oceanteam’s stakeholders and employees,” the Oslo-listed company said on Wednesday.

Oceanteam noted that the next steps forward to complete and effectuate the agreement with bondholders include a bondholder meeting scheduled on 2 May 2017 and a EGM on 9 May 2017.

Share this article

Follow Subsea World News

Events>

<< Apr 2017 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

3rd Deepwater East & Southern Africa Congress 2017

The past successful two series has gathered around 600 industrial professionals, while most of which thought this event informative and useful…

read more >

Offshore Technology Conference (OTC) 2017

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific…

read more >

OFFSHORE WIND CONNECTIONS 2017

The focus of OWC2017 is on the Yorkshire and the Humber region, which is at the epicentre of the offshore wind industry, and where billions…

read more >

19th Asia Oil and Gas Conference (AOGC 2017)

A high level congregation that needs no introduction, the Event brings forth strategic discourses from global industry captains…

read more >