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    New financing agreement for Polarcus

    Company News // March 25, 2015

    Marine seismic specialist Polarcus Limited has secured amended terms to the existing US$410 million fleet bank facility agreement entered into with DnB ASA and DVB Bank SE, Nordic Branch, Garanti-instituttet for Eksportkreditt (GIEK), and Eksportkredit/Eksportfinans ASA.

    The company has also received support from the majority of bondholders to certain amendments to its US$125 million 2.875% Secured Convertible Bond Issue 2011/2016, including an extension of its maturity.  
      
    The amendments to the Fleet Bank Facility improve the liquidity position of the company by US$59 million.

     

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