Brief: Siem Offshore To Extend Current Standstill Agreement Until 29 May 2020

Sea1 Offshore

18/05/2020 06:58

May 18 (Reuters) - Siem Offshore Inc  SIOFF.OL :
    * HAS TODAY AGREED WITH SECURED LENDERS IN NORWAY AND EUROPE
TO
EXTEND CURRENT STANDSTILL AGREEMENT UNTIL 29 MAY 2020
    * DISCUSSIONS WITH BANKS ARE POSITIVE AND WE EXPECT TO
EXECUTE A
FINAL AGREEMENT SHORTLY
    * CO AND LENDERS HAVE REACHED PRINCIPAL AGREEMENT ON TERMS
OF A
LONG-TERM STANDSTILL WITH AN AIM TO AGREE A COMPREHENSIVE PLAN
TO TAKE COMPANY THROUGH PROLONGED DOWNTURN

Source text for Eikon:  ID:nObi6t6PGa 
Further company coverage:  SIOFF.OL 

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