The beleaguered accommodation contractor began talks in June to shore up its balance sheets as contracts dried up in a lean offshore market.
The deal, still subject to approval, would involve two new private placements of $130 million and up to $150 million set to be pre-subscribed by top shareholders North Sea Strategic Investments and M&G.
A second offering of $15 million would allow participation from those unable to in the first round.
Some
