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Prosafe SE: Update on Financial Process with Lenders
Reference is made to earlier information about the ongoing financial process with lenders, latest in a press release from 25th March 2021. Prosafe confirms that the company and its lenders are making good progress and are close to reaching agreement on terms which have the support of a very significant majority of its lenders. Although it is too early to conclude or reveal the full details of the solution, it is expected to include a significant balance sheet recapitalization involving an equitization of debt. As part of the on-going process, Prosafe SE and Prosafe Rigs Pte. Ltd. have today filed for moratorium in Singapore with the support of more than 95% of the lenders calculated by amount across the USD 1,300 million senior secured term and revolving credit facility and the USD 144 million term loan facility. The moratorium will facilitate protection of going concern value pending finalization of term sheet negotiations wi
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Prosafe SE: Gulating Court of Appeal judgement in the case between Prosafe and Westcon regarding the TSV Safe Scandinavia conversion finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.