Brief: Oceanteam reaches bondholders understanding on refinancing
11/01/2017 13:02
Jan 11 (Reuters) - Oceanteam ASA OTS.OL :
* Reaches understanding with bond holders on refinancing current bond loan agreement
* Expects to need another few weeks to finalize talks with bondholders
* Says has reached understanding to repay bond in full, to extend loan maturity and to
reduce cash interest costs enabling
* Says new terms will not include any equity offering by company's current shareholders
* Says significant cash compensation will be deferred as part of agreement
* There is an understanding for use of proceeds from sale of North Ocean 105 for repayment
of vendors and of secured lenders of Oceanteam
Source text for Eikon: ID:nGNE6xLCKP
Further company coverage: OTS.OL
(Gdynia Newsroom)
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