Solstad needs more time to find sustainable solution to financial situation

Norwegian offshore vessel owner Solstad Offshore needs more time to work out a sustainable solution for the company’s current financial position as restructuring talks continue.

Late last year Solstad started discussions with its financial creditors and other stakeholders to improve the overall liquidity situation of the group and to create a robust long-term platform for the company.

The company in early December scheduled a bondholders’ meeting to ask their consent for temporary suspension and deferral of interest and amortizations on financial debt.

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