In light of the three-year charter agreement with Siemens Wind Power (commencing March 2016) and the one-year framework agreement with MHI Vestas Offshore Wind (during 2015), the market leading Operations & Maintenance vessel service provider, DBB Jack-Up Services A/S has secured new financing.

In January 2015, Guarantor DBB Jack-Up Services A/S obtained subordinated loans of DKK 25.0m and new equity of DKK 25.0m (in B shares). Furthermore, agreements with existing financiers and business partners have strengthened the company’s cash position by another DKK 90.7m. In addition, shareholder loans in the amount of DKK 42.7m from the three majority shareholders in the Guarantor (DBB Jack-Up Services A/S) have been converted into Guarantor B shares.

All in all, management is very pleased with the new agreements which strengthen the company’s short to medium term cash position by a total of DKK 140.7m.