Long-term crisis forces Siem Offshore to new debt plan

Siem Offshore plans to raise upwards of USD 100 million in the capital markets to bolster the carrier in a crisis-stricken offshore market. The crisis will last for years and the company needs outside capital to meet its debt payments.

by DANIEL LOGAN

Norwegian offshore carrier Siem Offshore plans a large-scale share issue on the Oslo Stock Exchange in an effort to raise upwards of USD 100 million in fresh capital.

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