Mermaid Maritime Public Company (SGX:DU4) entered into facility agreements with the Export-Import Bank of Thailand for a loan of up to $20.7 million, according to a filing with the Singapore Exchange on Monday.
The loan facilities contain a condition of a mandatory prepayment agreement if the company's majority shareholder, Thoresen Thai Agencies Public Company (BKK:TTA) holds less than 52% of the total issued share capital of the company.
Shares of the subsea and offshore drilling services company were up nearly 2% in recent trading.
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