Fairstar Heavy Transport holders agree to amend NOK 300 million bonds

By Susanna Moon

Chicago, Nov. 7 - Fairstar Heavy Transport NV said it received the needed bondholder support to amend its NOK 300 million of unsecured bonds.

The company entered into an irrevocable agreement with more than two thirds of the holders to amend the notes so that Fairstar is not in breach of any bond loan covenants, according to a company press release.

ABG Sundal Collier is the company's financial adviser. Norsk Tillitsmann is the trustee.

Fairstar Heavy Transport is a Rotterdam, Netherlands-based provider of long-distance ocean transportation services for the offshore and onshore industries.

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