Key Developments: Solstad Offshore ASA (SOFF.OL)

SOFF.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Solstad Offshore sells Normand Draupne to international buyer
Wednesday, 17 Sep 2014 08:15am EDT 

Solstad Offshore ASA:Says to sell Normand Draupne to an international buyer.Says vessel is planned to be delivered to new owners during Dec. 2014.Says sale of vessel will have a positive cash effect for the company of about 50 million Norwegian crowns and with a booked gain of about 27 million crowns.Says gain will be booked during Q4 2014.  Full Article

Solstad Offshore gets PSV contracts for 3 vessels
Thursday, 11 Sep 2014 08:17am EDT 

Solstad Offshore ASA:Says receives new contract by a subsea contractor for hire of 3 Platform Supply Vessels (PSV) for pipe transportation.Says the firm contract duration represents a total of 730 vessel days plus mobilisation, demobilisation and options.Says the contract will be executed by Normand Carrier, Normand Flipper and Normand Corona.Says contractual value is confidential between parties.  Full Article

Solstad Offshore announces contract extension for Normand Subsea
Tuesday, 12 Aug 2014 02:56am EDT 

Solstad Offshore ASA:Says Subsea 7 has declared option to extend contract for vessel Normand Subsea for one year from March 2015.Says this is the second of a total of four yearly options.No financial details.  Full Article

Solstad Offshore announces vessel delivery and $250 mln long-term facility
Wednesday, 2 Jul 2014 02:57am EDT 

Solstad Offshore ASA:Delivery of Normand Vision (CSV) from Vard Group AS taken on July 1.Vessel started directly on eight year firm chart with Ocean Installer AS with additional two yearly options.Overall cost for vessel is about $250 mln, including VLS.Long-term facility of $187.5 mln drawn from Eksportkreditt Norge AS, guaranteed by SpareBank 1 SR-Bank ASA and GIEK.  Full Article

Solstad Offshore ASA announces sale of vessel
Monday, 16 Jun 2014 03:09am EDT 

Solstad Offshore ASA:Says it has entered into agreements for the sale of Nor Supporten (AHTS / 2005 / 8.000 bhp).Vessel was delivered to its new owner on June 13.Sale will have limited accounting effect but will have a positive cash effect for SOFF of about 40 mln Norwegian crowns.  Full Article

Solstad Offshore announces placement of new senior unsecured bond of NOK 1 bln
Wednesday, 11 Jun 2014 02:39am EDT 

Solstad Offshore ASA:Completes issuance of 1,000 million Norwegian crowns in a new unsecured bond issue in the Norwegian bond market.The issue has a tenor of five years.Expects settlement date to be June 24.Will use net proceeds for refinancing of existing debt and general corporate purposes.Will apply for listing of the bonds on Oslo Stock Exchange.Nordea Markets and Swedbank Norway acted as Joint Lead Managers for the transaction.  Full Article

Solstad Offshore announces vessel delivery and NOK 510 mln long-term facility
Monday, 2 Jun 2014 08:49am EDT 

Solstad Offshore ASA:Says has taken delivery of Normand Reach (CSV) from Vard, Aukra.The vessel will start on a five-year firm chart with Reach Subsea ASA with additional 3x1 yearly options.The contract commences about June 10.Says a long-term facility of 510 million Norwegian crowns has been drawn from Eksportkreditt Norge AS.The facility is fully guaranteed by Nordea Bank Norge ASA and GIEK.  Full Article

Solstad Offshore announces NOK 400 mln contract with Petrobras
Tuesday, 29 Apr 2014 08:45am EDT 

Solstad Offshore ASA:Receives four-year contract for AHTS Normand Titan from Petrobras.The contract commences during Q3.The deal has a four-year extension option, subject to agreement on the commercial terms.Contract gross value for the firm period about 400 million Norwegian crowns.  Full Article

Solstad Offshore ASA announces details on FY 2013 dividend
Monday, 31 Mar 2014 02:57am EDT 

Solstad Offshore ASA:Says it proposes a dividend of 5.00 Norwegian crowns per share for fiscal year 2013 and for payment on June 9.If the General Meeting adopts the proposal, the share will be traded exclusive of dividend as from May 20.  Full Article

Solstad Offshore announces contract extension for Normand Cutter
Monday, 24 Mar 2014 08:46am EDT 

Solstad Offshore ASA:Says Saipem Ltd has declared their option to extend the contract for the construction vessel (CSV) Normand Cutter with one year from May.Says this is the second of a total of three yearly options.No financial details.  Full Article

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