Brief: GC Rieber Shipping Shearwater Signs USD 437 Mln Refinancing Of Main Debt Facilities

GC Rieber Shipping ASA

17/12/2020 06:32

Dec 17 (Reuters) - GC Rieber Shipping ASA  RISH.OL :
    * GC RIEBER SHIPPING: SHEARWATER SIGNS USD 437 MILLION
REFINANCING
OF MAIN DEBT FACILITIES
    * NEW FACILITIES HAVE TWO- AND FOUR-YEARS MATURITIES.
    * GC RIEBER SHIPPING ASA'S 19% OWNED GEOSERVICES COMPANY
SHEARWATER GEOSERVICES HOLDING AS ("SHEARWATER") HAS ENTERED
INTO AGREEMENTS
    * SHEARWATER HAS SIGNED NEW DEBT AND GUARANTEE FACILITIES
TOTALLING USD 437 MILLION WITH ITS LENDERS
    * ADDITIONALLY, SHEARWATER'S EXISTING SHAREHOLDERS WILL
CONTRIBUTE
USD 25 MILLION OF NEW EQUITY AS PART OF REFINANCING.
    * NEW FACILITIES HAVE TWO- AND FOUR-YEARS MATURITIES
    * THEY REPLACE APPROXIMATELY USD 500 MILLION OF DEBT UNDER
OLD
STRUCTURE,
    * GC RIEBER SHIPPING EXPECTS TO BOOK A NON-CASH LOSS OF
APPROXIMATELY USD 2 MILLION AS A RESULT OF SHARE ISSUE

Source text for Eikon:  ID:nWkrc7jTdr 
Further company coverage:  RISH.OL 

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