Solstad Offshore, Creditors Agree on Draft Restructuring Plan

Norway’s offshore service vessels (OSVs) supplier Solstad Offshore and its creditors have agreed on a draft restructuring plan, which includes converting 10 billion crowns ($962.17 million) of debt into equity, the company said on Tuesday.

The large majority of stakeholders, including secured lenders, leasing companies, industrial shareholders and key bondholders plan to sign a binding agreement by the end of April, the Oslo-listed firm added in a statement.

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