Le Lézard
Classified in: Oil industry, Business
Subject: FNC

Akastor ASA: DDW Offshore completes USD 31 million refinancing

FORNEBU, Norway, Sept. 26, 2023 /PRNewswire/ -- Akastor ASA's (OSE: AKAST), ("Akastor") wholly owned subsidiary DDW Offshore AS ("DDW Offshore") has completed a USD 31 million refinancing provided by EnTrust Global's Blue Ocean Funds as lenders. The new loan agreement matures in September 2026 and is guaranteed by Akastor. The funds have been or will be used for the following purposes:

i. settlement of the existing loan facility maturing in February 2024
ii. settlement of the profit split arrangement for the two vessels Skandi Atlantic and Skandi Emerald that was agreed with the previous lenders (see press release 27 August 2020 for further details)
iii. reactivation of "Skandi Peregrino", which is currently in warm lay-up, and;
iv. general corporate purposes. 

Following these transactions, DDW Offshore holds full economic interest in its fleet of three Anchor Handling Tug Supply (AHTS) vessels (Skandi Atlantic, Skandi Emerald and Skandi Peregrino).

For further information, please contact:

Řyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
[email protected]


Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

DDW Offshore owns three modern Anchor Handling Tug Supply (AHTS) vessels (Skandi Atlantic, Skandi Emerald and Skandi Peregrino) with capability to operate and support clients on a world-wide basis. The vessels are specially designed to perform anchor-handling, towing, and supply services at offshore oil and gas fields. On 24 July 2023, DDW Offshore completed the sale of Skandi Saigon and Skandi Pacific to OceanPact Servicos Maritimos S.A.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.



These press releases may also interest you

28 nov 2023
Spartan Delta Corp. ("Spartan" or the "Company") is pleased to announce the completion of a series of asset acquisitions (collectively, the "Acquisitions") in the West Shale Basin Duvernay (the "Duvernay") for aggregate cash consideration of...

28 nov 2023
The "United States Oilfield Equipment Rental Market, Competition, Forecast & Opportunities, 2028" report has been added to  ResearchAndMarkets.com's offering. The United States Oilfield Equipment Rental Market is anticipated to grow at a good pace...

28 nov 2023
Ensign Energy Services Inc. ("Ensign" or "the Company") is pleased to announce it has issued the redemption notice for the entire outstanding principal amount, US $417.5 million, of its 9.25% Senior Notes ("Senior Notes") due April 15, 2024, at a...

28 nov 2023
Net earnings were $819.2 million, or $0.85 per diluted share for the second quarter of fiscal 2024 compared with $810.4 million, or $0.79 per diluted share for the second quarter of fiscal 2023. Adjusted net earnings1 were approximately $792.0...

28 nov 2023
Keyera Corp. ("Keyera") announced today that it will release its 2024 guidance before markets open on Tuesday, December 12, 2023. The release will be followed by a conference call and webcast with accompanying presentation, which have been scheduled...

28 nov 2023
Southern California Gas Company (SoCalGas) announced Tuesday that its [H2] Innovation Experience in Downey was named to Fast Company's third annual Next Big Things in Tech list, honoring technology breakthroughs designed to shape the future of...

News published on and distributed by: