BW Offshore is on the cusp of a long-awaited $500m restructuring package.
The Oslo-listed FPSO specialist says the plan will provide sufficient liquidity through 2020 offering time for a market recovery.
Arctic Securities says the scheme comes at a time when BW Offshore was facing a liquidity shortfall from early 2017 and at first glance provides a sustainable solution.
It will conduct a $100m rights issue, extend bond maturities until early in the next decade and cut loan instalments in half.
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