SeaBird Calls for Amended Loan Agreement to Purchase Hawk Explorer

SeaBird has requested the Nordic Trustee to call for a bondholders’ meeting to amend the loan agreement of SBX03 (ISIN 001 0633118) to permit an extended financial indebtedness to the company.

The consent requirement is 50% of the bonds, and the company has received pre-acceptances concerning the proposal from bondholders representing a majority of the bonds in SBX03.

This is with reference to SeaBird Exploration PLC’s announcement of 2 September 2013, where SeaBird announced that it will exercise its option under the charter agreement to purchase the M/V Hawk Explorer and related equipment for $6.5 million.

Pursuant to said option exercise, the vessel and equipment will be delivered at the end of the lease term 31 August 2014 against settlement of the purchase price.

SeaBird has received an offer for an addendum to the charter party relating to M/V Hawk Explorer, pursuant to which SeaBird will pay the $6.5 million purchase price in instalments over the next 18 months, and will take over title of the vessel in Q1 2016, at which time the purchase price, interest and costs and expenses will have been paid.

Press Release, August 19, 2014

Share this article

Follow Subsea World News

Events>

<< Jul 2019 >>
MTWTFSS
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 31 1 2 3 4

Submarine Networks World 2019

As the key annual gathering for decision makers in the subsea communications value chain, they offer a dedicated platform…

read more >

8th International Conference 2019 Offshore Wind Power Substations

The International Conference Offshore Wind Power Substations is a technical event for experts in the wind industry.

read more >

Wind Turbine Towers

Wind Turbine Towers is a technical event for experts in the wind industry and the goal is to push forward technical development for future tower concepts.

read more >

Seatrade Europe 2019

The three day event will  take place in the hub of the European cruise industry, Hamburg; Germany…

read more >