2020-04-02 · Solstad Offshore ASA (the “Company“) and its subsidiaries (“SOFF” or the “Group“) have since Q3 2018 worked with their creditors towards a consensual financial restructuring. During the restructuring process, SOFF has had constructive discussions with all stakeholders.

Solstad Offshore, the Norwegian Deep Sea Supply and Farstad, says the large majority of its stakeholders have agreed a restructuring which has been under negotiation since the third quarter of

During the restructuring process, SOFF has had constructive discussions with all stakeholders. Reference is made to the stock exchange notice 31 March 2020 where Solstad Offshore ASA (the "Company") and its subsidiaries ("SOFF" or the "Group") informed that it had agreed on a plan with key stakeholders to finalise the negotiations for an agreement for the financial restructuring of the Group. Reference is made to previous stock exchange notices by Solstad Offshore ASA (the “Company”) concerning the proposed fully financed restructuring of the Solstad Offshore group, including the stock exchange notice on 29 September 2020 for the summons of an extraordinary general meeting on 20 October 2020 (the “EGM”). On May 8th of this year, we reported to the market that Solstad Offshore ASA, its creditors and industrial shareholders have come to an agreement in the financial restructuring process of the group.

Solstad offshore restructuring

Norway's offshore service vessels (OSVs) supplier Solstad Offshore and its creditors have agreed on a draft restructuring plan, which includes converting 10 billion crowns ($962.17 million) of debt into equity, the company said on Tuesday. The large majority of stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders plan to sign a binding agreement by the end of April, the Oslo-listed firm added in a statement. Solstad gets the last creditors on board restructuring. The last remaining creditors have now approved Norwegian ship operator Solstad Offshore's restructuring. The plan was launched in early May and means that banks will take over a majority of the shares. Photo: PR/Solstad Offshore.

2021-03-01

SOFF is pleased to announce that a large majority of the stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders have established a common plan Reference is made to the stock exchange notice 31 March 2020 where Solstad Offshore ASA (the “Company”) and its subsidiaries (“SOFF” or the “Group”) informed that it had agreed on a plan with key stakeholders to finalise the negotiations for an agreement for the financial restructuring of the Group. In accordance with the said plan, SOFF has today signed a Restructuring Implementation Agreement (the “ RIA “) for a restructuring of the Group (the “ Restructuring “).

CFO for Solstad Offshore ASA since he was appointed in 2017. In particular, he has been instrumental in the financial restructuring process

SOLSTAD OFFSHORE. 2 848,7.

Solstad Offshore April 2007 - June av E Hedman · Citerat av 1 — -0,1866. -0,2175. 2006-04-27 JASON SHIPPING*. 2 840,3. SOLSTAD OFFSHORE. 2 848,7. -0,4867.
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Solstad’s success at completing its restructuring comes as others in the sector continue to struggle. Last week, Siem Offshore put new proposals to its bondholders as it seeks to complete a refinancing valued at more than $1 billion, while Hermitage Offshore Services, Scorpio Group’s financially troubled offshore operation, announced the Solstad Offshore and its subsidiaries have been working with their creditors towards a consensual financial restructuring since Q3 2018.

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Solstad Offshore ASA: Restructuring outline SOFF is pleased to announce that a large majority of the stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders have established a common plan to finalize negotiations on the basis of a restructuring outline to the benefit of all stakeholders (the ”Restructuring Outline”).

Restructuring update Thu, Apr 30, 2020 22:53 CET. Reference is made to the stock exchange communication of Solstad Offshore ASA (the "Company") of March 31 st, 2020 in which it was announced that the Company and a large majority of its stakeholders had established a common plan to finalise the negotiations for the restructuring of the Company on the basis of a restructuring outline … Solstad Offshore, creditors agree on draft restructuring plan Wed, Apr 01, 2020 - 3:52 PM The large majority of stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders plan to sign a binding agreement by the end of April, the Oslo-listed firm added in … Solstad Offshore ASA: Restructuring Implementation Agreement Stock release 09.05.2020 0:43 Reference is made to the stock exchange notice 31 March 2020 where Solstad Offshore ASA (the "Company") and its subsidiaries ("SOFF" or the "Group") informed that it had agreed on a plan with key stakeholders to finalise the negotiations for an agreement for the financial restructuring of the Group. Solstad Offshore ASA: Restructuring outline SOFF is pleased to announce that a large majority of the stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders have established a common plan to finalize negotiations on the basis of a restructuring outline to the benefit of all stakeholders (the ”Restructuring Outline”). It has been a tough road for Solstad Offshore and its subsidiaries, which have worked with their creditors towards a consensual financial restructuring since Q3 2018. The announcement by Solstad Offshore follows closely upon the US-based OSV owner Hornbeck Offshore’s intention to file a pre-packaged restructuring plan under a Chapter 11 proceeding. Restructuring update Thu, Oct 31, 2019 19:00 CET. Reference is made to the previous stock exchange notices of Solstad Offshore ASA ("SOFF") regarding the SOFF group's ongoing restructuring process, and the agreed suspension and deferrals of payments under its financing agreements (the "Suspension"). Norway's offshore service vessels (OSVs) supplier Solstad Offshore and its creditors have agreed on a draft restructuring plan, which includes converting 10 billion crowns ($962.17 million) of Solstad Offshore and its subsidiaries have been working with their creditors towards a consensual financial restructuring since Q3 2018. Besides converting Nkr10Bn (US$946M) of debt into equity, Solstad’s restructuring will also require it to sell or scrap 37 older and less sophisticated vessels in its fleet, leaving it with approximately 90 vessels.