Songa Offshore SE announced the proposal to the bondholders will include, inter alia, a deferral of the instalment of NOK 466,500,000 due in May 2018 by 12 months and a reset of the interest rate to 10.50% for the bond in such deferral period. In parallel, the Company has agreed with Perestroika AS that the first instalment of USD 16.7 million of the shareholder loan currently due in June 2018 will be deferred by 18 months and a reset of the interest rate on similar terms as SONG04 in such deferral period.