Brief: Northern Ocean Says Reached A Set Of Agreements Which Puts Group On A Strong Financial And Operational Footing

Northern Ocean

23/12/2021 18:25

Dec 23 (Reuters) - Northern Ocean Ltd  NOL.OL :
    * NORTHERN OCEAN LTD  NOL.OL  - HAS REACHED A SET OF
AGREEMENTS
WHICH PUTS GROUP ON A STRONG FINANCIAL AND OPERATIONAL FOOTING 
    * NORTHERN OCEAN LTD  NOL.OL  - CO IS MAKING CHANGES TO ITS
OPERATION MANAGER AND MANAGEMENT TEAM, WHICH COMBINED WITH
IMPROVED LIQUIDITY OF USD 90 MLN 
    * NORTHERN OCEAN LTD  NOL.OL  - AGREED TO ENTER INTO
CONTRACTS
WITH ODFJELL DRILLING FOR PROVISION OF MARKETING & MANAGEMENT
SERVICES FOR GROUP'S RIG FLEET
    * NORTHERN OCEAN LTD  NOL.OL  - AMORTIZATION OF USD 40M DUE
IN
2022 IS DEFERRED AND ADDED TO BALLOON 
    * NORTHERN OCEAN LTD  NOL.OL  - FINAL DEBT MATURITY IS
EXTENDED BY
36 MONTHS FROM CLOSING
    * NORTHERN OCEAN LTD  NOL.OL  - APPOINTMENT OF JONAS
YTRELAND AS
CFO AND OLAV SIREVÅG AS CAO 

Source text for Eikon:  ID:nObiSP50Fa 
Further company coverage:  NOL.OL 

 ((Reuters.Briefs@thomsonreuters.com;))