Brief: Vallianz updates on refinancing exercise in Rawabi Vallianz Offshore Services

Vallianz Holdings

14/12/2015 23:11

Dec 15 (Reuters) - Vallianz Holdings Ltd  VHLD.SI : 
* Says refinancing exercise in Rawabi Vallianz Offshore Services Limited 
* Rawabi Vallianz Offshore Services intends to enter into a refinancing exercise 
* Says the refinancing of bulk of RVOS' bank loans amounting up to sar1.1 billion 
* Says refinancing will have no impact on the existing operations of the vessels 
* Says refinancing will involve transfer by RVOS of vessels to spv for consideration of approximately US$410.0 million 
* Refinancing will result in lower cost to the group as the cost savings from the loans and depreciation expense exceeds the cost of charter hire payable to the SPV 
* Says net of estimated expenses, the refinancing including Sukuk is not expected to result in any significant gain or loss to group 
 
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