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Prosafe completes restructuring

Hotel rig provider Prosafe puts the finishing touches to a comprehensive restructuring, which will entail more than USD 1 billion in debt being converted to shares.

Photo: PR / Prosafe

Prosafe has now completed an extensive restructuring of its debt.

The accommodation rig operator's creditors have started to convert debt for a total USD 1.087 billion to shares, and on Friday the company carried out the first phase, in which debt of USD 996 million was converted to shares for creditors, Prosafe writes in notice to the Euronext exchange in Oslo.

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