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Financial Advisory Services News

06 Jan 2014

Euronav: USD 350m Capital Increase to Support Maersk VLCC Acquisition

File Photo (Euronav): VLCC Euronav Famenne.

On 5 January 2014, Euronav announced the acquisition of fifteen (15) Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. for a total acquisition price of USD 980 million. Euronav follows that announcement by advising its intent to raise USD 50,000,000 by way of a capital increase under the authorized capital and that 5,473,571 new shares will be issued upon full payment of the subscription price, which is expected to be at or around 10 January 2014. The subscription…

17 Dec 2013

Euronav to Raise $150M of Perpetual Convertible Preferred Equity

The board of directors of Euronav NV announced that the company has raised $150 million (USD) via a private placement of a perpetual convertible preferred equity instrument. The instrument will be issued at par and will bear an interest of 6% during the first five years payable annually in arrears in cash or in shares at the option of the company. The price against which the securities can be contributed is €5.776 (or $7.928715 at EUR/USD exchange rate of 1.3727) per common share.

01 Jul 2010

Financing Offshore Ventures in Today’s Economic Climate

Regardless of today’s economic and financial reality, wealth creation and oil prosperity go hand in hand. While the medium to long term prospects are good, it is a major challenge for the offshore and maritime communities to secure the financing that is required to respond to immediate market opportunities, and also re-finance the completion of existing projects, such as offshore supply vessel new-builds. The funding necessary to invest in leading-edge research & development, introduce alternative & renewable ocean energy sources, fully commercialize promising technology, fast-track the expansion & grow of companies, and restructure capital requirements for mergers & acquisitions…