Brief: Siem Offshore: Restructuring To Close In First Half Of May

Sea1 Offshore

30/04/2021 16:02

April 30 (Reuters) - Siem Offshore Inc  SIOFF.OL :
    * RESTRUCTURING UPDATE
    * RESTRUCTURING IS NOW EXPECTED TO CLOSE DURING FIRST HALF OF MAY 2021
    * HAS RECEIVED CREDIT APPROVAL IN BRAZIL FOR A RESTRUCTURING PROPOSAL REDUCING DEBT SERVICE
PAYMENTS BY APPROXIMATELY $ 45 MILLION UNTIL END 2027
    * PROPOSAL ALSO INCLUDES EXTENSION OF FINAL MATURITY UNTIL 2034
    * FINAL DOCUMENTATION WITH EUROPEAN SECURED LENDERS IS IN AN AGREED FORM
    * DOCUMENTATION IN EUROPE IS EXPECTED TO BE SIGNED BY COMPANY AND LENDERS IN COMING DAYS

Source text for Eikon:  ID:nObiWFtgta 
Further company coverage:  SIOFF.OL 

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