DOF eyes financing solution

摘要

OSLO-LISTED offshore vessel contractor DOF Subsea is proposing a refinancing solution as it works to try and restructure its significant debts amid a challenging market. The company has gained a conditional commitment from its largest indirect shareholder Laco to subscribe for Nkr200 million ($21.8 million) of new cash equity through a proposed rights issue in parent DOF aimed at raising between Nkr200 million and Nkr500 million. DOF would also inject Nkr200 million in new equity into the subsea subsidiary as part of the proposed capital boost, which remains subject to approval by creditor banks and bondholders.