AsiaFinance and InsuranceOffshore

EMAS Offshore issues new notes

Singapore: Oslo and Singapore listed EMAS Offshore has announced that it will be looking to raise $500m in funds, establishing a multi currency debt issuance programme.

The offshore vessel operator, which was formed in July 2014 when EMAS Marine consolidated with EOC, has appointed DBS Bank as the sole arranger and dealer of the programme.

The company was not specific as to what the proceeds would be used for, with the company statement saying proceeds will be used for refinancing existing loans and/or capital expenditure purposes and/or financing general working capital and/or general corporate purposes.

The issue is likely a standard procedure with previously issued bond notes due for payment.

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.
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