Gulf Marine Services Announces Major Refinancing Deal

Gulf Marine Services (GB:GMS) has released an update.

Gulf Marine Services (GMS), a major provider of offshore support vessels, has secured a significant refinancing deal with three banks totaling $300 million, composed of a term loan and working capital facility, alongside implementing a new dividend policy that allocates 20-30% of annual net profit for shareholder distributions. The company reaffirms its EBITDA forecast for the year and outlines growth plans, including potential asset acquisitions to enhance shareholder value. This financial restructuring aims to bolster growth, allow for increased shareholder rewards, and maintain a commitment to reducing debt.

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