Solstad Financing Approved, Strikes Deal for Normand Maximus

Oslo-listed vessel owner Solstad informed today that banks have approved its financing plan on terms satisfactory to Norwegian industrial investment company Aker.

Namely, Aker will inject NOK 250 million in new equity and provide NOK 250 million in the form of a subordinated convertible bond, with maturity in 2021, which can be converted into new shares in Solstad or in a subsidiary of Solstad.

In addition, the company confirmed it has entered into an earlier proposed sale-and-leaseback agreement for the vessel Normand Maximus.

To remind, the offshore subsea construction vessel has secured work with Saipem on an 8-year charter agreement.

“All conditions for completion of the share capital increase and the issuance of the convertible loan, subscribed 31 August 2016, are now met,” Solstad said in Oslo Exchange notice on Friday.

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

More info

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OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

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OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

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Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

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