Brief: Sioff Reaches Agreement With Its Banks

Sea1 Offshore

28/05/2020 06:54

May 28 (Reuters) - Siem Offshore Inc  SIOFF.OL :
    * SIOFF REACHES AGREEMENT WITH ITS BANKS
    * SIOFF REACHES AGREEMENT WITH ITS BANKS
    * SIEM OFFSHORE INC - ON 26 MAY 2020 ENTERED INTO AN AGREEMENT WITH GROUP'S SECURED LENDERS
IN
EUROPE AND NORWAY FOR A STANDSTILL AGREEMENT FOR PERIOD FROM 29 MAY 2020 UNTIL 30 APRIL 2021
    * SIEM OFFSHORE INC - INTENTION IS TO USE STANDSTILL PERIOD TO AGREE A LONG-TERM PLAN TO
TAKE
COMPANY THROUGH PROLONGED DOWNTURN
    * SIEM OFFSHORE INC - STANDSTILL AGREEMENT WILL SECURE SUFFICIENT CASH TO OPERATE FLEET IN
CHALLENGING OFFSHORE MARKET WITH POSSIBLE DOWN TIME CAUSED BY COVID-19, DURING NEXT 11 MONTHS

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

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