Abu Dhabi's Gulf Marine Services (GMS) wants to raise $75m towards debt reduction after agreeing a new deal with its lenders in tough markets.
The owner of 13 self-propelled, self-elevating support vessels (SESVs) serving the offshore oil, gas and renewables industries said the banks have cut interest on existing loans.
Under the deal, the rates go down from Libor plus 5% to Libor plus 3%, backdated to 1 January this year.
