Reference is made to earlier information provided regarding Prosafe SEs (Prosafe or the Company) ongoing financial process with its lenders.
Prosafe is pleased to announce that it has received support from lenders of Prosafe SE and Prosafe Rigs Pte. Ltd. on a comprehensive and material restructuring of the financial indebtedness of the group (the Transaction). The Company has received acknowledgment of credit approval (subject to certain conditions) in support of the Transaction from ca. 79% across the USD 1300 million facility and the USD 144 million facility with additional credit approvals expected by mid-June 2021.
The terms of the Transaction will result in significant de-leveraging of the balance sheet with ca. 75% debt reduction,…
Read the full article at: https://www.globenewswire.com/news-release/2021/06/04/2241817/0/en/Prosafe-SE-Restructuring-plan-agreed-with-lenders.html