Brief: SD Standard Drilling secures 15.6 pct ownership in 6 PSVs

SD Standard Etc

25/01/2017 06:55

Jan 25 (Reuters) - SD Standard Drilling Plc  SDSD.OL : 
    * Has secured 15.6 pct ownership in New World Supply Ltd. (WWS), Cayman Island exempted 
company that owns via subsidiaries six Platform Supply Vessels (PSVs) 
    * Purchase price for ownership in New World Supply is $5.1 million 
    * Opportunity to capitalize New World Supply was offered pro-rata to all bondholders of 
World Wide Supply AS (WWS) 
    * Company may receive up to $750,000 in additional proceeds from its bondholding in World 
Wide Supply AS 
    * Investment in new world supply will be financed through company's cash holding, share 
contributions from subsequent offers and company's $10 million revolving credit facility 
 
Source text for Eikon:  ID:nObib3CqZa  
Further company coverage:  SDSD.OL  
 
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