Siem Offshore gets respite from creditors until New Year
A sufficient number of Siem Offshore's bond holders agreed Friday to postpone loan payments until the turn of the year. The strained offshore company hopes to land a comprehensive restructuring before that deadline.
by SØREN PICO
Strained offshore company Siem Offshore, controlled by magnate Kristian Siem, secures sufficient backing from its bondholders, which have agreed to postpone and suspend interest and debt payments on loans until the turn of the year.
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