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DOF further defers debt payment

Norway’s DOF and DOF Subsea have each entered into suspension agreement with secured lenders to further defer the company’s loan payment.

The lenders represents 91% and 88% of DOF and DOF Subsea’s secured debt respectively.

The companies signed a similar agreement with lenders last month. The latest agreement will suspend the companies’ payment to lenders until September 30.

“The agreements are entered into in order to facilitate the continued dialogue with the secured lenders and bondholders under the group’s bond loans regarding a long-term financial restructuring of the group,” DOF said in a release.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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