Prosafe announces comprehensive refinancing

The refinancing includes two share issues; reduced amortisation on all bank facilities until 2020; the conversion of bonds to equity; and an agreement to postpone delivery of the company’s latest newbuild. At the end of 2020, the Company will continue to have a strong global competitive position, with a large modern fleet of accommodation vessels to service its worldwide operations. HitecVision portfolio company North Sea Strategic Investments has pre-committed to participating in the first share issue, and will increase its shareholding in the company.

For full details, please see www.prosafe.com