Cypriot floatel owner Prosafe has completed the first phase of its refinancing with a share sale worth up to $150m.
It planned to issue between $130m and $150m of new shares, but said the transaction was fully subscribed.
The final amount will be determined on the basis of the amount required for the cash-out of bonds under its restructuring programme.
Its two largest shareholders, North Sea Strategic Investments and M&G, bought $85m of the shares.
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