World Wide Supply lacks liquidity to make bond payment due Nov. 27

By Caroline Salls

Pittsburgh, Nov. 30 – World Wide Supply AS will not make the payment due Nov. 27 on its senior secured callable bond issue 2013/2017, according to a news release.

The company said its available liquidity is limited, and its current financial situation does not allow for the full payment to be made. As a result, the payment will not be completed.

World Wide said it will continue its dialogue with the bond trustee and an informal bondholders’ committee.

As previously reported, the company is in default of some of its obligations under the bond agreement.

World Wide Supply, based in Ulsteinvik, Norway, is an offshore service vessel company providing high quality offshore shipping services for the global petroleum industry.

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