Havila Shipping granted vital lifeline by bondholders

Norwegian carrier Havila Shipping, which is facing a potential default, has been granted a key lifeline by bondholders who previously rejected all proposals from the carrier's owner.

Bankruptcy-threatened Norwegian offshore carrier Havila Shipping has secured an agreement with its otherwise resistant bondholders to postpone the repayment date of USD 76 million.

Nordic Trustee ASA, which represents the bondholders, informs in a press release on Friday that maturation of the loan, which was originally set to be repaid on August 30th 2016, for "purely practical reasons" has been pushed back one year to August 30th 2017, as the issuer is unable to repay to the loan at the date agreed upon.

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