Company update

19.12.2018, 02:14:11 pm

Reference is made to the stock exchange communications of Solstad Offshore ASA (“SOFF”) of October 22nd and December 5th, 2018.

As set out in the aforementioned communication, SOFF has commenced discussions with inter alia the bondholders under SOFF’s outstanding bond with ISIN NO 001 0713548 (the “Bondholders”) to improve the overall liquidity situation of the SOFF-group and to create a robust long-term platform for the company.

On December 19th, 2018 the Bondholders accepted to suspend and defer payments of interest falling due under the bond agreement in the period commencing December 20th, 2018. The Bondholder’s suspension and deferral is conditional on a principal and interest suspension being agreed with the financial creditors of relevant subsidiaries of SOFF and will be valid for the corresponding period.

Further information on such suspension will be provided in due course.

Lars Peder Solstad CEO, at +47 91 31 85 85
Anders Hall Jomaas CFO, at +47 40 04 29 18