Songa Offshore SE Signs Amendment of fleet financing and new credit facility
Reference is made to the announcement made by Songa Offshore SE (the “Company”) on 4 June 2015, in which the Company announced amendment of its fleet financing of Songa Dee, Songa Delta and Songa Trym and that the Company had entered into a term sheet for a new credit facility from the main shareholder, Perestroika AS, of USD 50 million.
The new credit facility has maturity in April 2021, but can be called by Perestroika AS in June 2018. It is unsecured and bears an interest rate of LIBOR plus 8.00%.
Documentation for both transactions have been completed and signed by all parties.