Bourbon receives restructuring offer from creditors

Bourbon receives restructuring offer from creditors

Offshore vessel giant Bourbon says it has received an offer of financial restructuring from its major creditors and lessors.

The French company has been looking to transform its company structure and finances since February last year, and last November went to the courts to commence conciliation procedures to help with the financial restructuring.

Bourbon said the restructuring offer proposed by creditors is subject to a number of conditions precedent, and must be “analysed and assessed in the light of the interests of the group, its employees and its shareholders”.

Bourbon says the offer, which likely includes a share for debt swap, will be considered by the Bourbon board after having carefully studied all the terms.

Bourbon posted a loss of €457.8m ($516.1m) last year and a loss of €576.3m ($649.7m) in 2017.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Related Posts