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    Otto Marine unit secures loan agreement

    Company News // June 4, 2015

    Otto Marine Limited has confirmed that its indirect wholly owned subsidiary, Surf Subsea Pte Ltd has entered into a US$20 million loan option agreement with Oversea-Chinese Banking Corporation Limited.

    The option relates to the bank having a right to subscribe for new ordinary shares upon listing of Surf Subsea or its investment vehicle for up to US$20 million.

    The company also recently announced that its wholly owned subsidiary, Go Sirius Private Limited has entered
    into a US$34 million credit facility agreement with the bank.

     

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