Solstad bondholders agree to suspension of debt payments

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Expecting a challenging winter season in the North Sea, Solstad in late October decided to begin negotiations with lenders and other stakeholders to improve the overall liquidity situation.

Solstad in early December started negotiating a potential agreement whereby interest and amortizations on financial debt of the Solstad Offshore group would be temporarily suspended and deferred starting December 20, 2018. The company also scheduled a bondholders’ meeting to ask for their consent for temporary suspension and deferral of interest and amortizations on financial debt.

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