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Gulf Marine Services agrees new debt deal with creditors on 'vastly improved' terms
StockMarketWire.com
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Support vessels provider Gulf Marine Services confirmed that it and all of its banks have agreed new debt deal on 'vastly improved' terms.
Under the revised agreement the rate of interest payable by the company on its borrowings will decrease from LIBOR +5% to LIBOR +3%, retrospectively from the beginning of this year. The reduced interest rate will apply until the end of 2022, after which the existing ratchet will apply.
At 9:53am: (LON:GMS) Gulf Marine Services PLC share price was 0p at 7.07p
Story provided by StockMarketWire.com
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