Siem Offshore AS Concludes Major Asset Sale and Refinancing

Siem Offshore AS (DE:S5H0) has released an update.

Siem Offshore AS has finalized the sale of 9 vessels to a major shareholder, resulting in the repurchase and cancellation of 35.7% of its shares and the assumption of MUSD 117.5 in debt. The company has also completed a refinancing operation, repaying USD 69m in debt related to Sea1 Offshore vessels and amending existing loans to ease previous restrictions. Additionally, two new credit facilities have been established.

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