CGG completed its 2014 debt refinancing program with the amendment and extension of its Nordic credit facility led by Nordea. The credit amount was increased from $175m to $250m and the maturity extended from May 2018 to December 2019.

During the year 2014, CGG successfully renegotiated its debt (Convertible Bonds, High Yield Bonds and Revolving Credit Facilities), amended its financial covenants of Net Debt over EBITDA from 3.0x to 3.75x and extended substantially its overall maturity from 4.3 years early 2014 to 5.3 years early 2015, with no major debt instalment due before 2019.

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