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Bourbon Corporation SA (GPBN.PA)

GPBN.PA on Paris Stock Exchange

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24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Bourbon FY net loss widens to 263.0 million euros
Thursday, 16 Mar 2017 02:02am EDT 

Bourbon Corporation SA : FY number of vessels (FTE) 512.3 versus 503.0 year ago . FY average utilization rate 62.7 percent versus 75.5 percent year ago . FY adjusted EBITDA 193.3 million euros ($207.43 million)versus 371.3 million euros year ago . FY net loss 263.0 million euros versus loss of 43.4 million euros year ago . FY average daily rate $/day 9,586 versus 11,381 $/day year ago . Expects a recovery prospect for the offshore at the end of 2017 and in 2018 . Expects the deep offshore and offshore continental ships to continue to experience the effects of a low cycle in 2017 .Proposal from the board of directors to the shareholders meeting to pay a dividend of 0.25 euros per share, payable in cash or shares.  Full Article

Bourbon announces plan for reorganization of 910.8 million euros debt
Wednesday, 8 Mar 2017 01:00am EST 

Bourbon Corporation SA : Announces a sustainable reorganization of major part of its financial debt, i.e. 910.8 million euros ($962.35 million), under "stronger for longer" action plan . Signed an agreement with its financial partners providing for rescheduling of maturities of a large part of its financial debt . Bourbon corporation - out of long-and medium-term debt of 692 million euros, 365 million euros of repayments due between 2016-2018 were rescheduled and reduced to amount of 63 million euros not repayable until 2018 . The remainder of the debt, i.e. 629 million euros, will henceforth be repaid progressively between 2019 and 2025 . Short term facilities amounting to 196.8 million euros will be refinanced and maintained at this level from 2017 to 2020 inclusive, before being repaid progressively afterwards . 22 million euros in short-term credits will be maintained and repaid progressively as from 2018 .Additional debts due in 2017 in an amount of 143 million euros will be rescheduled in order to benefit from progressive repayment until 2022.  Full Article

Bourbon Corporation awarded first pipelay EPCI contract by Total Gabon
Tuesday, 14 Feb 2017 01:11am EST 

Bourbon Corporation SA :Bourbon awarded first pipelay EPCI contract by Total Gabon for the subsea development of the Hylia Project.  Full Article

Bourbon FY adjusted revenue down at 1.10 billion euros
Thursday, 9 Feb 2017 01:02am EST 

Bourbon Corporation SA : FY adjusted revenue 1.10 billion euros ($1.18 billion) versus 1.44 billion euros year ago . Q4 number of vessels (FTE) 514.0 versus 508.0 year ago . Q4 average utilization rate 57.4 percent versus 72.1 percent year ago . Q4 average daily rate $/day 8,989 versus 10,781 $/day year ago . Expects to see continued progress in utilization rates in the subsea and crew boats segments .However, the deepwater and shallow water offshore segments will continue to experience the effects of the low point of the cycle in the Q1 of 2017.  Full Article

Bourbon H1 adjusted revenue falls to 599.2 million euros
Wednesday, 3 Aug 2016 12:57am EDT 

Bourbon SA : H1 adjusted revenue 599.2 million euros ($671.82 million)versus 758.8 million euros year ago . H1 number of vessels (FTE) 511.3 versus 500.6 year ago . H1 average daily rate $ 9,961 versus $11,885 year ago .H1 average utilization rate 66.8 percent versus 78.1 percent year ago.  Full Article

Financing for Bourbon's investment in gas sector not to be obtained within timeframe
Tuesday, 17 May 2016 12:57am EDT 

Bourbon SA :During its meeting of May 16, 2016, the Board of Directors of BOURBON acknowledged that the required financing for the acquisition of the gas activities of JACCAR Holdings would not be obtained within the timeframe stated in the Framework agreement governing the investment.  Full Article

Bourbon comments on FY 2016 guidance
Wednesday, 4 May 2016 12:55am EDT 

Bourbon SA:Says 2016 will likely see a low point in the cycle with probably a slight rebound in the second half of the year.Says its results will continue to be influenced by the EUR/USD exchange rate.Expects that the current imbalance between oil supply and demand should become more balance later in the year or next year.  Full Article

Bourbon to acquire Evergas and Greenship Gas
Tuesday, 29 Mar 2016 02:00am EDT 

Bourbon SA:Has decided to acquire activities of global leader in ethane transportation.Acquisition comprises 100 pct of Greenship Gas, a Singaporean owned 'shipping trust.Acquisition comprises 100 pct of Evergas, operator and contractor of gas transportation services.Evergas and Greenship Gas are owned by their majority shareholder JACCAR holdings.Purchase price for these companies is $320 million with a net debt as of Dec. 31, 2015 of $389 million.  Full Article

Chairman de Chateauvieux denies negotiations aimed at delisting Bourbon
Wednesday, 23 Mar 2016 03:45am EDT 

Bourbon SA:Jacques de Chateauvieux, chairman of Bourbon and Jaccar Holdings, formally denies conducting any negotiation aimed at delisting Bourbon.De Chateauvieux reiterates his intention to comment on Bourbon's strategy next Tuesday, March 29.No statement or comment before that time.  Full Article

Bourbon Chairman mulling bid to take co private - Bloomberg
Tuesday, 22 Mar 2016 01:00pm EDT 

Bloomberg:Bourbon SA Chairman Jacques De Chateauvieux mulling bid to take co private-Bloomberg, citing sources - Bloomberg, citing sources.Bourbon SA chairman, who already owns more than 50 percent of Bourbon through his investment co Jaccar Holdings, is speaking with financial advisers on possible offer for shares he doesn't already own - Bloomberg, citing sources.  Full Article

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