Lenders agree to refinance Emas Offshore’s debt

Offshore contractor Emas Offshore, part of Singapore’s Ezra, has reached a deal with all of its lenders on refinancing its debts over a period of five years. 

At the end of October this year, Emas reached an agreement in-principle with the substantial majority of its principal bankers on the refinancing of its financial obligations and the
provision of additional working capital facilities.

The company on Monday reported the agreement was reached with all its financial lenders to refinance its financial obligations over a period of 5 years from December 12, 2016.

Emas also said that the refinancing will be subject to documentation and conditions that would be set out in definitive agreements to be entered into between the parties within sixty days from December 12.

Further, Emas urged the shareholders of the company to exercise caution when trading in the company’s shares as there is no certainty or assurance that the definitive agreements will be entered into or the ongoing initiatives will be undertaken or completed at all.

 

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