Siem Offshore plans to repay floaters using PIK bonds

By Rebecca Melvin

New York, Feb. 4 – Siem Offshore Inc. said it will issue PIK bonds in regard to the interest payments and upcoming maturity of NOK 600 million floating-rate notes due Oct. 30, 2020, according to a regulatory notice.

The company is proposing to pay the interest payments representing the margin for the interest payments due on April 30, July 30 and on the maturity date Oct. 30.

Siem Offshore is a Kristiansand, Norway, provider of services to the offshore oil and gas industry.

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