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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.