Prosafe SE: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
Prosafe SE Enters into Firm Turnkey Contract for Safe Zephyrus
Prosafe SE announced that in reference to announcement of October 4, 2012 regarding Letter of Intent with Jurong Shipyard Pte Ltd. (JSPL) in Singapore for the construction of a second harsh environment semi-submersible accommodation rig, Prosafe has entered into a firm turnkey contract with the yard. Delivery of the rig, which will be named Safe Zephyrus, is scheduled around year-end of 2014. With a similar design as the Safe Boreas, which is presently under construction at JSPL, the new unit will be the constructed to comply with Norwegian regulations. The cost, including yard cost, owner-furnished equipment, project management and financing is estimated at around USD 350 million. A total of 20% of the yard cost is payable at signing of the contract, while the remaining 80% will be paid at delivery. Prosafe has received bank commitments for a five-year post delivery term loan facility of USD 420 million to finance both Safe Boreas, and the new unit. The facility has an interest rate of 3-months LIBOR + 2.95% and a repayment profile of 12 years. Closing is anticipated to take place in December 2012. JSPL has also granted options for two additional new builds. The additional two options can be designed for either the Norwegian Continental Shelf or for worldwide operations outside the North Sea. In addition, Prosafe has an outstanding option from the first new build contract that was signed in December 2011.
Latest Key Developments in Oil
- MRC Global Inc announces two international acquisitions
- Kvaerner divests North American construction business for $80.3 mln
- Matrix Service Co to acquire north american construction business assets from Kvaerner
- Saipem SpA says Consob announces conclusion of proceedings connected with 2012 financial statements
- Share this
- Digg this