Prosafe, which leases accommodation rigs to the oil sector, expects that the ongoing negotiations with creditors could end up with the banks becoming co-owners of the strained company.
A solution in which lenders convert debt into equity has been used by several debt-plagued offshore companies and could also be in store for Prosafe, according to the company's third quarter interim report.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.