DDW Offshore completes USD 31 million refinancing

DDW Offshore AS (“DDW Offshore”) has completed a USD 31 million refinancing under terms agreed with EnTrust Global’s Blue Ocean Funds as lenders. The new loan agreement matures in September 2026 and is guaranteed by Akastor. The funds have been or will be used for the following purposes:

  1. settlement of the existing loan facility maturing in February 2024.
  2. settlement of the profit split arrangement for the two vessels Skandi Atlantic and Skandi Emerald that was agreed with the previous lenders (see press release 27 August 2020 for further details).
  3. reactivation of “Skandi Peregrino”, which is currently in warm lay-up, and
  4. general corporate purposes. 

Following these transactions, DDW Offshore holds full economic interest in its fleet of three Anchor Handling Tug Supply (AHTS) vessels (Skandi Atlantic, Skandi Emerald and Skandi Peregrino).