Songa Offshore SE : Summons to bondholder meeting and amendments to the Perestroika shareholder loan

Songa Offshore SE : Summons to bondholder meeting and amendments to the Perestroika shareholder loan

Songa Offshore SE (the “Company”) will today summon a bondholder meeting for changes to its bond ISIN NO 001062875.3 (“SONG04”).
The proposal to the bondholders will include, inter alia, a deferral of the instalment of NOK 466,500,000 due in May 2018 by 12 months and a reset of the interest rate to 10.50% for the bond in such deferral period.

The Company has received irrevocable undertakings to vote in favor of the proposed amendments from more than 2/3 of the voting bonds.

In parallel, the Company has agreed with Perestroika AS that the first instalment of USD 16.7 million of the shareholder loan currently due in June 2018 will be deferred by 18 months and a reset of the interest rate on similar terms as SONG04 in such deferral period.

Source: Songa Offshore SE

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