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Viking Supply Ships seeking standstill agreement from bondholders

The pressured offshore carrier has extended a standstill agreement with its creditors and is now seeking the same extension from its bondsholders. At the same time, Viking Supply Ships will follow through on a bond payment which expired Monday, March 21st.

Photo: Viking Supply Ships

Viking Supply Ships is so strained by the crisis in the offshore market that the carrier is now unable to meet its financial obligations.

The carrier has been granted an extension on its standstill agreement with the banks to April 13th 2016, which has given Viking Supply a little breathing room to try to settle a restructuring plan. Now, the carrier is looking to secure a similar agreement with its bondholders. Such an agreement would mean that Viking Supply Ships could postpone payment in the period, in which time it hopes to have reached a solution with its creditors.

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