Aban Offshore announced that Bank lenders to a wholly owned subsidiary of the company have signed an Inter-Creditor Agreement
(ICA) to undertake the process of formulation and implementation of a resolution plan for the debts owed to such lenders; also, certain step-down subsidiaries of the Company have engaged Pareto Securities AS and ABG Sundal Collier ASA to explore a possible capital raise based on a new structure involving the nine modern jack-up drilling rigs owned by step-down subsidiaries of the Company, in order to settle the debts owed by the Company's subsidiaries.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
