Singapore’s Goliath Offshore pays interest on 12%, 15% notes in kind

New York, March 12 – Goliath Offshore Holdings Pte. Ltd. and Goliath Holding Pte. Ltd. made the interest payments due on March 11 in kind, according to a notice from bond trustee Nordic Trustee ASA.

Goliath Offshore’s bonds are its 12% senior secured callable bond issue 2015/2017 while Goliath Holdings’ bonds are its 15% super senior callable bond issue 2015/2017.

The interest was paid in kind because there was not sufficient cash available in the debt service account.

Goliath’s subsidiaries offer marine transportation services. The holding company is based in Singapore.

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