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Otium to make unsecured bond interest payment due Dec. 31 on Jan. 8
By Caroline Salls
Pittsburgh, Jan. 7 – Otium AS will make the interest payment due Dec. 31 on its senior unsecured bond issue 2012/2015 on Jan. 8, according to a notice from bond trustee Nordic Trustee ASA.
The trustee said the company was “not in a position to meet the interest payment” on Dec. 31.
On Jan. 8, bondholders will receive an amount equal to the interest due on Dec. 31 plus late payment interest for the period of Dec. 31 to Jan. 8.
Otium is a property developer in the residential, commercial and leisure market. The company was incorporated in 1987 and is based in Stavanger, Norway.
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