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- EIOF - Credit Approved Term Sheet For Refinancing of Debt, Secures Long Term Financing and Positions Company For Further Growth.
EIOF - Credit approved term sheet for refinancing of debt, secures long term financing and positions company for further growth.
22 Feb 2023 14:33 CET
Issuer
Eidesvik Offshore ASA
Eidesvik Offshore ASA (“Eidesvik" or the “Company”) is pleased to announce that
it has agreed a term sheet that is credit approved with its financial
institutions for refinancing of its debt.
The new debt will mature on February 28, 2026. With a prepayment of MNOK 410
from available cash on hand the debt will be materially reduced, and the
Company’s financial position will be significantly strengthened. The Company and
its financial institutions are working on completing final documentation and
expect to have final agreements in place during March 2023.
Upon signing final documentation, the debt prepayment of MNOK 410 will be made.
Debt amortization will be MNOK 42.5 for 2023 and MNOK 85 per year thereafter.
Gitte Gard Talmo, CEO & President, comments:
"The agreed terms secure a significantly stronger financial position for
Eidesvik, and we appreciate the confidence our financial institutions are
showing us. We now look forward to focusing on growing our business."
Bømlo, February 22, 2023
Contacts:
CEO Gitte Gard Talmo (+47 915 23 245)
CFO Helga Cotgrove (+47 907 35 246)
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.
Important information
Certain statements included within this announcement contain forward-looking
information, including, without limitation, those relating to forecasts,
projections and estimates, statements of management's plans, objectives and
strategies for the Company, such as planned expansions, investments or other
projects, management, as well as statements preceded by "expected", "scheduled",
"targeted", "planned", "proposed", "intended" or similar statements. Although
the Company believes that the expectations reflected in such forward-looking
statements are reasonable, these forward-looking statements are based on a
number of assumptions and forecasts that, by their nature, involve risk and
uncertainty. Various factors could cause our actual results to differ materially
from those projected in a forward-looking statement or affect the extent to
which a particular projection is realized.
No assurance can be given that such expectations will prove to have been
correct. The Company disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
This stock exchange announcement was published by Lars Tufteland Engelsen, VP
Finance at Eidesvik AS, on the time and date provided.
More information:
Access the news on Oslo Bors NewsWeb site
Source
Eidesvik Offshore ASA
Provider
Oslo Børs Newspoint
Company Name
EIDESVIK OFFSHORE
ISIN
NO0010263023
Symbol
EIOF
Market
Oslo Børs