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Debt Financing

Prosafe is mainly financed by secured bank debt. In addition, one vessel (Safe Eurus) is financed by yard financing by Cosco.

Through the completion of a financial restructuring in December 2021, the company achieved a significant de-leveraging of ca. USD 1,100 million of total debt reduction which was equitized into 99% of Prosafe SE equity.

Following the financial restructuring of the balance sheet (in December 2021), the company had a total reinstated secured bank debt of USD 343 million with maturity end 2025. In addition, at year end 2021, the company had USD 93 million of yard financing with final maturity no later than August 2028.

Please refer to press release of 17 December 2021 – Successful financial restructuring and the annual report for 2021 for further information.

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