Bondholders have assumed ownership of Bibby Offshore following its recapitalisation.
The UK OSV company said the refinancing deal was approved by "an overwhelming majority of 98.7% of noteholders of the £175m ($242m) 7.5% senior secured notes" at a meeting held on 10 January.
The owner now has a substantially debt-free balance sheet, with equity of £50m being injected to enable it to reach its full potential by consolidating and expanding its position within the offshore inspection, repairs and maintenance and construction markets, it added.
