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August 2018 Reshaping Prosafe - Transforming agreement with COSCO and Lenders
- Transforming agreement with COSCO and Lenders Disclaimer
All statements in this presentation other than statements of historical fact are
forward -looking statements, which are subject to a number of risks, uncertainties,
and assumptions that are difficult to predict and are based upon assumptions as to
future events that may not prove accurate. Certain such forward -looking statements
can be identified by the use of forward -looking terminology such as “believe”,
“may”, “will”, “should”, “would be”, “expect” or “anticipate” or similar expressions, or
the negative thereof, or other variations thereof, or comparable terminology, or by
discussions of strategy, plans or intentions. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in this presentation as anticipated,
believed or expected. Prosafe does not intend, and does not assume any obligation
to update any industry information or forward -looking statements set forth in this
presentation to reflect subsequent events or circumstances The Prosafe transformation 2018
The COSCO agreement
Debt facilities enhancements
4 The Prosafe transformation 2018
Positioning for the next phase
Continuation of fleet modernisation Debt Facilities Enhancements Yard financing raise
oNew financing of USD 431.2m for the
takeout of the 3 new Cosco units
oRepayment of yard financing
through a 50/50 profit split
oLow minimum debt service scalable
oInterest free first two years after
delivery, thereafter interest is based on
oFlexible delivery up to 5 years and
ultimately option to not take delivery of
rigs oLiquidity: Amortization relief of USD
156m (in addition to amortization relief
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