Atlantic Sapphire increases bridge loan by USD 1.5 million under restructuring deal
Reuters2026/08/24 13:31- Atlantic Sapphire expanded its Bridge Loan with a new USD 1.5 million Tranche D to bolster near-term liquidity.
- Tranche D can be increased by up to USD 1.5 million within 10 business days, subject to lender discretion.
- Tranche D carries 20% p.a. PIK interest, no origination fee, matures June 30, 2027.
- All other Bridge Loan tranches had their maturity extended to Oct. 31, 2026.
- Initial Tranches totaling USD 12.03 million were transferred to Coral HoldCo; conversion into equity at NOK 0.10 per share is planned.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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