Banks approve Siem Offshore's debt plan
The banks backing Siem Offshore have approved a new debt plan from the Norwegian offshore carrier, which will thus get some breathing room to handle the significant pressure from the market.
BY KATRINE GRØNVALD RAUN
The offshore industry brings very little good news these days. Siem Offshore, however, can relax a little, after the carrier's banks have approved a new financing plan. The approval contains a three-year extension of a credit facility for USD 316 million for six Anchor Handling Tug Supply Vessels (AHTS), which otherwise would have expired in November, writes Siem Offshore in a statement.
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