Kirkland Advises Lenders on Recapitalization of Prosafe

Kirkland & Ellis advised the ad hoc group of lenders to Prosafe SE, the Oslo-listed operator of semi-submersible accommodation vessels, on the company's comprehensive recapitalization.

The transaction involved a recapitalization of $193 million of the company's $343 million term loans, new money funding of $75 million backstopped by the ad hoc group, and an amendment and restatement of the company's remaining outstanding facilities into a single $225 million facilities agreement. The transaction closed on July 21, 2025.

Read the transaction press release

The Kirkland team included restructuring lawyers Hannah Crawford, Kon Asimacopoulos, Lynette Janssen and Wesley Zhang.