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Solstad Farstad's subsidiary restructures debt

A subsidiary of the relatively newly-merged Norwegian offshore service and supply carrier Solstad Farstad has landed a debt restructuring agreement.

Norwegian offshore service carrier Solstad Farstad's subsidiary Solship Invest 3 AS has reached a debt-restructuring agreement with its creditors. 

According to Solstad Farstad, the agreement includes a postponement until the end of 2019 on aggregated amortization, interest and so-called bareboat payments at a total of USD 48 million. Furthermore, the debt restructure allocates USD 27 million from Sterna Finance Ldt. to Solship Invest 3 AS.

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