Struggling marine services company MMA Offshore will raise nearly $100 million to repay debts and repair its balance sheet, despite opposition from major shareholder Halom Investments.

The $97 million share placement includes a one for one $74.6 million non-renounceable rights issue at 20 cents per share, a 14.9 per cent discount, and a $22.4 million institutional placement at the same price.

MMA said its existing lnders have agreed to amend the company's existing debt facilities by extending the term for two years through till 2021 and reducing the interest rate.

To read more, please Login or Register below

Problems, questions, feedback? Please call +61 8 9288 2100