BW Offshore gets holder OK to amend four series of floaters

By Susanna Moon

Chicago, June 9 – BW Offshore Ltd. obtained holder approval to amend four series of floating-rate senior bonds due 2017, 2018, 2019 and 2020 at a meeting held Thursday.

The bond amendments are contingent on the amendment of the company’s bank facilities and completion of a rights issue, according to the company notice.

As announced May 26, the meetings were held as part of the company’s plan to secure a long-term financial platform.

The bondholder meetings were held for the senior callable bond issue 2012/2017, senior callable issue 2013/2018, senior bond issue 2014/2019 and senior bond issue 2015/2020.

Nordic Trustee ASA is the trustee. DNB Markets and Pareto Securities are the company’s financial advisers.

BW Offshore provides floating production services to the oil and gas industry. The company has headquarters in Singapore and Oslo.

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