Bergen Group reaches agreement on refinancing

Norway’s Bergen Group has now achieved full acceptance of the refinancing process of the group. 

Bergen Group is a Norwegian supplier of products, services, and solutions to the offshore and maritime industry. The group’s operational activities are carried out by the subsidiary Bergen Group Services, focusing on three market areas, Energy & Industry, Maritime, and Defense.

The company explained on Wednesday that the main elements in the refinancing package include a fully subscribed private placement, a substantial reduction of debt obligations and new loan facility on favorable terms.

CEO Hans Petter Eikeland, said: “This is a milestone for Bergen Group. The comprehensive refinancing which now is agreed upon by all involved parties have been crucial in order to establish a satisfactory company balance sheet and capital structure for the group. We do now have a robust financial platform that also provides opportunities for further growth.”

The refinancing package which now has been approved by all involved parties includes NOK 22 million in new equity through a private placement where managers in the Group and Bergen Group Services participates with NOK 7.5 million, of which CEO Hans Petter Eikeland has signed up for NOK 5 million.

The rest of the private placement comes from the main shareholders Brian Chang Holdings Limited, AS Flyfisk and Køhlergruppen AS. Brian Chang Holdings Limited and AS Flyfisk have also granted Bergen Group a loan facility of NOK 20 million on favorable terms.

“Bergen Group ASA is now well prepared for further development of the Group. We have a solid foundation in the extensive expertise and the strong market position that Bergen Group Services has built up over a long time,” says Eikeland.

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply