Brief: Nordic Shipholding Says Certain Of Co's Loan Covenants Not Met By 30 September

Nordic Shipholding A/S

01/10/2018 06:34

Oct 1 (Reuters) - Nordic Shipholding A/S  NORDIC.CO :
    * REG-COMPANY ANNOUNCEMENT 08/2018
    * THERE WAS A RISK THAT COMPANY MAY BREACH CERTAIN OF ITS
LOAN
COVENANTS AS AT 30 SEPTEMBER 2018
    * THERE IS A RISK THAT GROUP MAY BREACH CERTAIN OF ITS LOAN
COVENANTS AS AT 30 SEPTEMBER 2018
    * NEGOTIATING TO REDUCE THIS RISK THROUGH IMPLEMENTATION OF
VARIOUS STRATEGIES AND INCREASED LIQUIDITY MEASURES
    * DURING Q3 2018 TANKER MARKET HAD CONTINUED TO WEAKEN AND
REACHED
LEVELS NOT SEEN FOR DECADES
    * WEAKENED  TANKER MARKET RESULTED IN CERTAIN OF COMPANY'S
LOAN
COVENANTS NOT BEING MET BY 30 SEPTEMBER

Source text for Eikon:  ID:nGNE1Q7HrD 
Further company coverage:  NORDIC.CO 

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