Oslo, 15th July 2014
Master Marines subsidiary Jackel AS, the owner of the Haven jack up, has completed its refinancing of the company’s bank debt by issuing the first tranche of Euro 95 million in a 5 year bond loan of up to Euro 190 million. Excess proceeds from this first tranche were used to prepay a portion of shareholder loans. The bond carries a coupon of 7% and is secured by a 1st lien on Haven and the issue of further tranches is subject to a minimum contract backlog.
Master Marine AS