Swedish company Viking Supply Ships (VSS) has announced that it has reached an agreement with the committee representing a majority of the outstanding bonds.
Financially troubled VSS started a restructuring in June this year.
The agreement, which includes extension of bank facilities and restructuring of certain charter party agreements, will finalise the total financial restructuring of the company, subject to approval of the proposal at a bondholders meeting. The senior lenders are all positive to the agreement, also subject to final approval from credit committees.
“The agreement will provide the company with a stable financial platform till 2020. The restructuring will allow the company to increase focus on optimizing its operations and take full advantage of future commercial opportunities within the company’s core business areas,” VSS said in a release.
