Solstad Offshore Completes Restructuring as Sector Struggles In the latest move, the shareholders, banks, and creditors of Norway’s Solstad Offshore approved a complex financial restructuring.

Reference is made to the stock exchange notice 31 March 2020 where Solstad Offshore ASA (the "Company") and its subsidiaries ("SOFF" or the "Group") informed that it had agreed on a plan with key stakeholders to finalise the negotiations for an agreement for the financial restructuring of the Group.

In 2020, about 10 per cent of the company revenues came from offshore wind. Offshore staff. SKUDENESHAVN, Norway – Solstad Offshore has reached agreement with a majority of its stakeholders on a restructuring of the company. Key terms include: Around NOK10 billion ($959 million) of debt (secured debt, leasing obligations, bond obligations and others) to be converted to equity. Solstad Offshore Solstad Offshore SOFF is pleased to advise that the outstanding credit committee approvals from the relevant secured lenders have been granted, which means that the Restructuring Implementation Agreement which was entered into and announced on May 8th, 2020 has been declared effective.

Solstad offshore restructuring

The vessel will mobilise from Norway and will then provide support to a major drilling campaign offshore North Western Australia, securing about 1 year of utilization for the vessel. Solstad Offshore Completes Restructuring as Sector Struggles In the latest move, the shareholders, banks, and creditors of Norway’s Solstad Offshore approved a complex financial restructuring. Norway's offshore service vessels (OSVs) supplier Solstad Offshore and its creditors have agreed on a draft restructuring plan, which includes converting 10 billion crowns ($962.17 million) of debt into equity, the company said on Tuesday. Restructuring Implementation Agreement Fri, May 08, 2020 23:43 CET. Reference is made to the stock exchange notice 31 March 2020 where Solstad Offshore ASA (the "Company") and its subsidiaries ("SOFF" or the "Group") informed that it had agreed on a plan with key stakeholders to finalise the negotiations for an agreement for the financial restructuring of the Group. Reference is made to the stock exchange notice 31 March 2020 where Solstad Offshore ASA (the "Company") and its subsidiaries ("SOFF" or the "Group") informed that it had agreed on a plan with key stakeholders to finalise the negotiations for an agreement for the financial restructuring of the Group. Restructuring update Thu, Apr 30, 2020 22:53 CET. Reference is made to the stock exchange communication of Solstad Offshore ASA (the "Company") of March 31 st, 2020 in which it was announced that the Company and a large majority of its stakeholders had established a common plan to finalise the negotiations for the restructuring of the Company on the basis of a restructuring outline (as 2 dagar sedan · Diamond Offshore completes restructuring, exits chapter 11.

2021-03-01

Restructuring update Thu, Apr 30, 2020 22:53 CET. Reference is made to the stock exchange communication of Solstad Offshore ASA (the "Company") of March 31 st, 2020 in which it was announced that the Company and a large majority of its stakeholders had established a common plan to finalise the negotiations for the restructuring of the Company on the basis of a restructuring outline … Solstad Offshore, creditors agree on draft restructuring plan Wed, Apr 01, 2020 - 3:52 PM The large majority of stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders plan to sign a binding agreement by the end of April, the Oslo-listed firm added in … Solstad Offshore ASA: Restructuring Implementation Agreement Stock release 09.05.2020 0:43 Reference is made to the stock exchange notice 31 March 2020 where Solstad Offshore ASA (the "Company") and its subsidiaries ("SOFF" or the "Group") informed that it had agreed on a plan with key stakeholders to finalise the negotiations for an agreement for the financial restructuring of the Group. Solstad Offshore ASA: Restructuring outline SOFF is pleased to announce that a large majority of the stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders have established a common plan to finalize negotiations on the basis of a restructuring outline to the benefit of all stakeholders (the ”Restructuring Outline”). It has been a tough road for Solstad Offshore and its subsidiaries, which have worked with their creditors towards a consensual financial restructuring since Q3 2018. The announcement by Solstad Offshore follows closely upon the US-based OSV owner Hornbeck Offshore’s intention to file a pre-packaged restructuring plan under a Chapter 11 proceeding.

Assisting GIEK in the restructuring of Solstad Offshore ASA in 2019 and 2020. Marius Moursund Gisvold. In the period 1983-2019,

Klicka här för att följa aktiekursen i realtid Lars Peder Solstad CEO, at +47 91 31 85 85 Kjetil Ramstad CFO, at +47 90 75 94 89. Solstad Offshore ASA www.solstad.com. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. 1 Mar 2021 Norwegian shipowner Solstad Offshore has bounced back in black as a result of successful financial restructuring completed in October 2020. Solstad Offshore : Restructuring outline. April 2, 2020. Solstad Offshore ASA (the “Company“) and its subsidiaries (“SOFF” or the “Group“) have since Q3 2018 2 Jun 2020 Strained offshore ship operator Solstad Offshore has secured Fredriksen and Kjell Inge Røkke, for a much-anticipated restructuring plan. 31 Mar 2020 Norway's offshore service vessels (OSVs) supplier Solstad Offshore and its creditors have agreed on a draft restructuring plan… 20 Oct 2020 CEO Lars Peder Solstad rewarded with stock for guiding company through lengthy restructuring in offshore slump.

Since the third quarter of 2018, Solstad Offshore and its subsidiaries have worked with their creditors towards a consensual financial restructuring. Solstad Offshore Solstad Offshore SOFF is pleased to advise that the outstanding credit committee approvals from the relevant secured lenders have been granted, which means that the Restructuring Implementation Agreement which was entered into and announced on May 8th, 2020 has been declared effective. Norwegian vessel owner Solstad Offshore has finalized negotiations regarding its financial restructuring and agreed on conditions for two Ocean Yield’s anchor handlers. Solstad said on Monday that it had agreed on financial restructuring of the company under a plan laid out in late March. Solstad Offshore CEO Lars Peder Solstad Skudeneshavn, Norway, headquartered Solstad Offshore ASA reported yesterday that a majority of its creditors — including secured lenders, leasing companies, industrial shareholders and key bondholders — have established a common plan to finalize negotiations on the basis of a restructuring outline.
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Last week, Siem Offshore put new proposals to its bondholders as it seeks to complete a refinancing valued at more than $1 billion, while Hermitage Offshore Services, Scorpio Group’s financially troubled offshore operation, announced the 2020-04-02 Solstad Offshore ASA and its subsidiaries have since Q3 2018 worked with their creditors towards a consensual financial restructuring. During the restructuring process, SOFF has had constructive | … Lars Peder Solstad CEO, at +47 91 31 85 85 Anders Hall Jomaas CFO, at +47 40 04 29 18. Solstad Offshore ASA www.solstad.com. This information is subject of the disclosure requirements according to the Norwegian Securities Trading Act section § 5-12.

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Lars Peder Solstad CEO, at +47 91 31 85 85 Anders Hall Jomaas CFO, at +47 40 04 29 18. Solstad Offshore ASA www.solstad.com. This information is subject of the disclosure requirements according to the Norwegian Securities Trading Act section § 5-12.

Solstad Offshore, the Norwegian Deep Sea Supply and Farstad, says the large majority of its stakeholders have agreed a restructuring which has been under negotiation since the third quarter of Solstad Offshore levererar tjänster inom offshore- och oljeindustrin. Idag bedriver och förvaltar bolaget över flera fartyg på global nivå.