Songa Offshore SE : Update on conditions for pr...

Reference is made to previous announcements regarding Songa Offshore SE's (the "Company") private placement of shares with gross proceeds of approximately USD 250 million and convertible bond issue with gross proceeds of USD 150 million. As stated in previous announcements, the transactions were conditional upon (a) amendments to the existing CAT-D charter contracts, (b) waivers and amendment agreements with the Company's bondholders as well as (c) amended agreements for the Company's syndicated bank facility. Following the bondholders meeting held on 11 December 2013 and agreement with Statoil and it's license partners as well as the bank syndicate, these conditions have now been fulfilled.

The private placement and the convertible bond issue (and the effectiveness of the above agreed amendments) remain subject to approval by the Company's extraordinary general meeting to be held on 18 December 2013.

Limassol, 16 December 2013

For further information, please contact:
Jan Rune Steinsland, CFO ([phone])

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Songa Offshore SE via Globenewswire

HUG#1750011