Bondholders reject Siem Offshore's restructuring plan

Siem Offshore was unable to secure enough votes for a postponement of debt for two bond loans, says the shipping company. A new proposal has been sent out.

Photo: PR / Siem Offshore

Siem Offshore was not able get enough votes to push through its proposal to postpone payments on two bond loans, informs the offshore ship operator.

The company recently settled a deal with its European creditors to postpone debt until next spring. But this deal is contingent on the shipping company being able to find solutions with other creditors in Brazil and Canada.

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