Singapore’s Goliath plans in-kind, cash interest on 12%, 15% notes

By Susanna Moon

Chicago, Sept. 10 – Goliath Offshore Holdings Pte. Ltd. plans to pay interest due Sept. 11 in kind on its 12% senior secured callable bond issue 2015/2017.

Meanwhile, Goliath Holding Pte. Ltd. will pay cash for the interest due Sept. 11 on its 15% super senior callable bond issue 2015/2017.

The interest due on the 12% notes was paid in cash because there was enough cash available to do so in the debt service account, according to a notice from bond trustee Nordic Trustee ASA.

Interest due March 11 was paid in kind on both issues because there was not sufficient cash available in the debt service account, as previously reported.

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

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