Emas Offshore requests deadline extension to refinancing talks

EMAS Offshore Limited, a subsidiary of Ezra Holdings, is still in the process of negotiating and finalising the details of its refinancing agreement with its lenders.

In an update on the Singapore Exchange late on Friday night, the offshore support vessel firm said it has requested its lenders to extend the time for finalising the definitive agreements to 60 days from Feb 10, 2017.

The group had in December said it had signed a term sheet with all its lenders to refinance its financial obligations over a period of five years from Dec 12, 2016; this was subject to documentation and conditions set out in definitive agreements entered into between the various parties within 60 days from Dec 12.

The group, which is also listed on the Oslo bourse, said it will make further announcements when the definitive agreements are entered into, or when there are material developments on these ongoing initiatives.