Kurs & Likviditet
Beskrivning
| Land | Norge |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Tjänster |
| Industri | Shipping & Offshore |
2023-08-30 19:23:28
GOLDEN ENERGY OFFSHORE SERVICES AS
Ålesund August 30th 2023
Reference is made to the previous announcement on 4 August 2023 regarding Golden
Energy Offshore Services AS ("GEOS") transformative fleet acquisition and a
potential refinancing.
GEOS has today signed a non-binding term sheet (the "Term Sheet") with
Fleetscape Capital Ltd ("Fleetscape") for a USD 98.55 million long term
financing for the 5 vessels being acquired from subsidiaries of Vroon Holding
B.V. ("Fleet Acquisition"), plus the Energy Duchess and Energy Empress, by way
of a 5-year sale and leaseback facility (the "SLB"). The SLB will refinance the
existing Fleetscape facility in addition to providing debt funding for the Fleet
Acquisition. The proposed SLB is structured as a finance lease with customary
purchase options as well as a put option at maturity and is priced at a margin
of 650 basis points above SOFR. Based on the latest average broker valuations
received the lease amount of USD 98.55 million equates to a loan-to-value
("LTV") of about 63% of the 7 vessels to be financed under the SLB. The total
put/call option price after year 5 is USD 17.99 million.
In addition to the above 7 vessels, GEOS owns the Energy Swan which is currently
financed by a Nordic Bond Loan of NOK 70 million and the outstanding loan
equates an LTV of about 39% based on the latest average broker valuations for
this vessel.
The Term Sheet is subject to necessary credit committee approvals, agreement on
transaction documentation and GEOS Board of Director's approval.
For further information, please contact:
Per Ivar Fagervoll
pif@geoff.no
Mobile: + 47 974 28 884