2020 Bulkers, AHTS portföyünü 15 gemiye çıkarmak için 175 milyon dolarlık özel yerleşimle harekete geçti

Kısaca

15 AHTS gemisini kapsayan portföy büyümesi; toplam değer yaklaşık 407 milyon dolar özel sermaye ile 175 milyon dolar artırılan sermaye yapısı ve 150 milyon dolar yeni borç hedefi nitelik: Norveçli yatırımcılar tarafından desteklenen yeniden yapılanma süreci izlenecek

Ana mesele

2020 Bulkers, offshore hizmetler için 15 AHTS gemisini kapsayacak portföyü özel sermaye ile büyütüyor

Ne değişti?

Konsolidasyon, yaklaşık 264 milyon dolarlık gemi değeri ve 175 milyon dolarlık yeni sermaye yapısı içeriyor

Beni nasıl etkiler?

Yatırımcılar için offshore denizcilik sektöründe finansal yapı ve portföy çeşitliliği etkisi doğurur

Ne oldu?

2020 Bulkers, AHTS AS’i devralıp portföyünü genişletiyor; toplam gemi değeri yaklaşık 407 milyon dolar düzeyinde ilan edildi

Neden şimdi?

offshore hizmetlere artan talep ve yatırımcı tabanının konsolidasyon isteği bunu tetikliyor

Neden önemli?

Şirket, varlıkları tek çatı altında birleştirerek finansal ve operasyonel verimlilik potansiyeli sunuyor

Kimler etkileniyor?

• Yatırımcılar
• Kredi sağlayıcıları
• Tedarik zinciri ortakları

Sektör ve piyasa etkisi

denizcilik ve offshore hizmetler segmentinde portföy yoğunlaşması ve değerleme etkileri

Riskler

• Piyasa talebindeki dalgalanmalar
• Borçlanma yükünün yönetimi zorlaşabilir
• Regülasyon ve iş planı değişiklikleri riskleri

Takip edilmesi gerekenler

• Sermaye artırımı tamamlandıkça borç düzeyi ve kapalı kapılar ardındaki ortaklık yapıları
• AHTS portföyündeki gemi edinme ve devralma sürecindeki takvim
• Şirketin operasyonel entegrasyon performansı

Haberin tamamı

2020 Bulkers has signed the binding deal behind its dramatic move into offshore shipping, setting out to assemble as many as 15 large anchor handlers while launching a private placement of up to $175m.

The Oslo-listed company has agreed to acquire all of AHTS AS, which owns seven AHTS vessels and has agreements to buy another three. Those ships have been assigned an aggregate value of $264m on a debt-free, cash-free basis.

Based on a preliminary September 30 balance sheet, the equity purchase price for AHTS AS is expected to be about $113m, paid entirely in newly issued 2020 Bulkers shares at $0.299 apiece.

AHTS AS has also received acceptances covering all shares in four associated project companies and around 79% of a fifth, bringing another five vessels or vessel purchase contracts into the structure: MH Liberty, Aurora Challenger, Skandi Peregrino, Skandi Emerald and Skandi Launcher.

Those project-company assets carry agreed values of another $143m on a debt-free, cash-free basis, taking the total fleet value behind the roll-up to roughly $407m. The equity value of the committed project-company stakes is estimated at about $90m.

To fund the enlarged company, 2020 Bulkers has launched a private placement of up to $175m at $0.299 per share, up from the roughly $125m equity raise envisaged when the transaction was first unveiled last week. Total new debt is targeted at around $150m, in addition to existing debt at Anchor Launcher.

The deal brings together a familiar cast of Norwegian shipping and offshore investors. AHTS AS was established this year with Harald Moræus-Hanssen’s Uthalden, Magnus Halvorsen-controlled MH Capital and Arne Blystad’s Songa Capital each holding 31.7%. Tor Olav Trøim’s Drew Holding owns the remaining 4.7%.

After the consideration shares and private placement, Uthalden is expected to emerge with around 21% of 2020 Bulkers, MH Capital with 11% and Songa Capital with 10%. The three sponsors have agreed to six-month lock-ups.

Tom Babinski has been lined up as chief executive of the new AHTS platform. His offshore background includes Aurora Offshore Management, Viking Supply Ships, Westshore Shipbrokers, Sevnor and Framar.

The company intends to change its name from 2020 Bulkers to AHTS once the restructuring is completed.

It marks a complete reinvention for a listed vehicle originally built around eight scrubber-fitted newcastlemaxes. 2020 Bulkers contracted that fleet from 2017 at an average all-in cost of $47.6m per ship and sold the last two vessels late last year for $145.5m, completing a full fleet monetisation in early 2026.

After the final ships left, the company returned about $316m to shareholders through a special distribution, leaving what was effectively a listed cash shell for Halvorsen and fellow investors to redeploy.

Completion of the AHTS acquisition remains conditional on the private placement, shareholder approvals and other customary conditions, with closing targeted around October 1 and an October 15 long-stop date.

Kaynaklar

• Splash247 (Shipping/Maritime)