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Bourbon Corporation SA (GPBN.PA)

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Latest Key Developments (Source: Significant Developments)

Bourbon Q3 total adjusted revenue down at 204.3 million euros
Thursday, 9 Nov 2017 01:13am EST 

Nov 9 (Reuters) - BOURBON CORPORATION SA ::Q3 NUMBER OF VESSELS (FTE) ‍ 489 VERSUS 491 YEAR AGO.Q3 AVERAGE UTILIZATION RATE ‍​52.9 PERCENT VERSUS 59.9 PERCENT YEAR AGO.Q3 AVERAGE DAILY RATE $ ‍8,668 VERSUS $9,494 YEAR AGO.Q3 TOTAL ADJUSTED REVENUE EUR‍​ 204.3 MILLION VERSUS EUR 259.1 MILLION YEAR AGO.  Full Article

Bourbon names Gael Bodenes as CEO
Friday, 8 Sep 2017 01:11am EDT 

Sept 8 (Reuters) - Bourbon SA statement::Says board entrusted Gaël Bodénès, as chief executive officer, with responsibility of company management.Says board confirmed Jacques de Chateauvieux as executive chairman.Says this evolution follows Christian Lefèvre appointment as Chief Executive Officer of JACCAR Holdings as of October 1st, 2017, who consequently leaves his executive position at Bourbon..  Full Article

Bourbon sustainable reorganization of major part of financial debt
Monday, 31 Jul 2017 01:00am EDT 

July 31 (Reuters) - BOURBON CORPORATION SA ::SUSTAINABLE REORGANIZATION OF THE MAJOR PART OF THE FINANCIAL DEBT.‍CONDITIONS PRECEDENT TO IMPLEMENTATION OF DEBT RESCHEDULING AGREEMENT ANNOUNCED IN MARCH 2017 HAVE BEEN FULFILLED​.  Full Article

Bourbon joins Automated Ships Ltd and Kongsberg to deliver autonomous offshore support vessel prototype
Tuesday, 11 Jul 2017 01:00am EDT 

July 11 (Reuters) - BOURBON CORPORATION SA ::REG-BOURBON JOINS AUTOMATED SHIPS LTD AND KONGSBERG TO DELIVER GROUNDBREAKING AUTONOMOUS OFFSHORE SUPPORT VESSEL PROTOTYPE.‍BOURBON HAS ENTERED INTO A MEMORANDUM OF UNDERSTANDING (MOU) WITH AUTOMATED SHIPS LTD​.‍MOU TO SUPPORT BUILDING OF PROTOTYPE VESSEL FOR OFFSHORE OPERATIONS, IN COLLABORATION WITH PROJECT'S PRIMARY TECHNOLOGY PARTNER, KONGSBERG​.  Full Article

Bourbon announces sustainable reorganization of major part of financial debt
Monday, 3 Jul 2017 03:50am EDT 

July 3 (Reuters) - BOURBON CORPORATION SA : :REG-BOURBON: SUSTAINABLE REORGANIZATION OF THE MAJOR PART OF THE FINANCIAL DEBT.‍DEFINITIVE COMPLETION IS NOW SET AT JULY 28, 2017 AT LATEST​.‍MAIN FEATURES OF REORGANIZATION REMAIN UNCHANGED​.  Full Article

Bourbon and Kongsberg Maritime sign strategic agreement of collaborative development
Wednesday, 31 May 2017 01:00am EDT 

May 31 (Reuters) - BOURBON CORPORATION SA ::BOURBON AND KONGSBERG MARITIME <<>> STRENGTHEN THEIR COLLABORATION IN DIGITAL SOLUTIONS FOR THE NEXT GENERATION CONNECTED VESSELS.BOURBON AND KONGSBERG MARITIME HAVE NOW SIGNED A STRATEGIC AGREEMENT OF COLLABORATIVE DEVELOPMENT ON CONNECTED AND AUTONOMOUS VESSELS.TWO COMPANIES WILL EXECUTE JOINT PROJECTS TO DEVELOP NEW WAYS OF EFFICIENT OPERATIONS IN OFFSHORE SERVICES INDUSTRY, WITH A FAST TIME-TO MARKET.  Full Article

Bourbon chosen by Centrale Nantes for the Mooring installation of the 1st floating wind turbine in France
Friday, 28 Apr 2017 01:30am EDT 

April 28 (Reuters) - Bourbon Corporation SA ::Bourbon chosen by centrale Nantes for the mooring installation of the 1st floating wind turbine in France.Mooring installation will take place during summer 2017 based on a method jointly established by Bourbon and Ideol's engineering teams in collaboration with ecole centrale de Nantes.  Full Article

Bourbon signs agreement with ICBC Financial Leasing to restructure rent payments
Wednesday, 12 Apr 2017 01:32am EDT 

Bourbon SA : Announces a new milestone of its action plan "Stronger for longer" with signing of an agreement with ICBC Financial Leasing . Reached an agreement to restructure the rents payments under the leasing transaction entered into in 2013 and 2014 with ICBC Financial Leasing. . This agreement provides a decrease by $240 million of the overall cash payments made by Bourbon for the years 2016 to 2018 . There is an extension of two years of the initial bareboat charter period at a rate of 8 pct together with more favorable commercial terms in favor of ICBC Financial Leasing. .This agreement will not have any significant impact on consolidated financial statements of group.  Full Article

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

BRIEF-Bourbon joins Automated Ships Ltd and Kongsberg to deliver autonomous offshore support vessel prototype

* REG-BOURBON JOINS AUTOMATED SHIPS LTD AND KONGSBERG TO DELIVER GROUNDBREAKING AUTONOMOUS OFFSHORE SUPPORT VESSEL PROTOTYPE