Singapore’s Goliath Offshore to make in-kind payment on 12%, 15% notes

By Angela McDaniels

Tacoma, Wash., March 13 – Goliath Offshore Holdings Pte. Ltd. will make an in-kind interest payment on March 11 on its 12% senior secured callable bonds due 2017 and Goliath Holding Pte. Ltd.’s 15% super senior callable bonds due 2017, according to a notice from bond trustee Nordic Trustee ASA.

The amounts to be paid on interest payment dates are calculated based on the amount in the debt service accounts. There is nothing in the debt service accounts, so the interest payments will be made in kind.

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

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