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Norway’s DOF extends standstill agreement on three bonds
Chicago, Sept. 30 – DOF ASA and DOF Subsea AS announced the positive results of three bondholders’ meetings to extend the standstill periods, according to a notice.
The company was asking noteholders to extend the current standstill period to Oct. 31, with the possibility of a further extension to Nov. 30 with the approval of an ad hoc group of bondholders.
The standstill request relates to the senior floating-rate bonds (ISIN: NO0010971005), the $175 million of 9½% senior bonds (ISIN: NO0010788177) and the NOK 1 billion of senior bonds (ISIN: NO0010836810).
Quorums were achieved at all of the meetings with all voting in favor for the floaters, 96.4% of votes cast in favor for the 9½% bonds and 99.21% voting in favor for the third issue.
Nordic Trustee AS is the trustee.
DOF Subsea is a Storebo, Norway-based oil and gas industry services provider.
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