{"id":19106,"date":"2020-06-03T11:44:00","date_gmt":"2020-06-03T11:44:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2580176"},"modified":"2020-06-03T11:44:00","modified_gmt":"2020-06-03T11:44:00","slug":"prosafe-se-update-on-financial-situation-and-process-with-lenders","status":"publish","type":"post","link":"http:\/\/ipsnews.net\/business\/2020\/06\/03\/prosafe-se-update-on-financial-situation-and-process-with-lenders\/","title":{"rendered":"Prosafe SE: Update on financial situation and process with lenders"},"content":{"rendered":"

Prosafe refers to the information on its financial status and process with lenders that has been provided over time and lastly in the Q1 2020 report published on 26 May 2020.<\/p>\n

The company has gained support to an extension to the previously reported forbearance arrangement with a majority of its lenders across its USD 1,300 million and USD 288 million facilities from end May 2020 till end June 2020.<\/p>\n

As part of this, the company will continue to defer making payments of scheduled instalments and interests under both facilities. Similarly, payment of the final instalment owed and due under the seller credit to Cosco for the Safe Notos remains as initially reported on 13 February subject to ongoing discussions with Cosco and the lenders.<\/p>\n

The company’s discussions with its lenders remain constructive. The forbearance arrangement shows support for the company and creates stability to work with lenders to agree a long term financial solution, while lenders reserve their rights. Pending this, the company continues to operate on a business as usual basis to protect and create value through challenging market conditions.<\/p>\n

Further information will be provided in due course.<\/p>\n

Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com<\/p>\n

Stavanger, 2 June 2020
Prosafe SE<\/p>\n

For further information, please contact:<\/p>\n

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 \/ +47 907 65 155<\/p>\n

Stig Harry Christiansen, Deputy CEO and CFO
Phone: +47 51 64 25 17 \/ +47 478 07 813<\/p>\n

\n

See Campaign: <\/strong>http:\/\/www.prosafe.com<\/a>
Contact Information:<\/b>
Jesper K. Andresen, CEO
\nPhone: +47 51 65 24 30 \/ +47 907 65155<\/p>\n

Stig Harry Christiansen, Deputy CEO and CFO
\nPhone: +47 51 64 25 17 \/ +47 478 07813<\/p>\n

Tags:<\/b>
<\/a>, Wire<\/a>, Disclosure Newswire<\/a>, United States<\/a>, English<\/a><\/p>\n

\"image\"<\/div>\n

\n

Contact Information:<\/h3>\n

Jesper K. Andresen, CEO
\nPhone: +47 51 65 24 30 \/ +47 907 65\u00a0155<\/p>\n

Stig Harry Christiansen, Deputy CEO and CFO
\nPhone: +47 51 64 25 17 \/ +47 478 07\u00a0813<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Prosafe refers to the information on its financial status and process with lenders that has been provided over time and lastly in the Q1 2020 report published on 26 May 2020. The company has gained support to an extension to the previously reported forbearance arrangement with a majority of its lenders across its USD 1,300 … Continue reading Prosafe SE: Update on financial situation and process with lenders<\/span><\/a> Continue Reading →<\/span><\/a><\/p>\n","protected":false},"author":46,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56,3,22,54],"tags":[],"class_list":["post-19106","post","type-post","status-publish","format-standard","hentry","category-disclosure-newswire","category-english","category-united-states","category-wire"],"yoast_head":"\nProsafe SE: Update on financial situation and process with lenders - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2020\/06\/03\/prosafe-se-update-on-financial-situation-and-process-with-lenders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prosafe SE: Update on financial situation and process with lenders - Business\" \/>\n<meta property=\"og:description\" content=\"Prosafe refers to the information on its financial status and process with lenders that has been provided over time and lastly in the Q1 2020 report published on 26 May 2020. 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