Norwegian OSV specialist DOF continue to search for a long-term refinancing solution as it continues to find the market challenging.
DOF and 65%-owned subsidiary DOF Subsea are seeking refinancing solutions involving stakeholders including shareholders, banks, and bondholders.
DOF says it is likely to require an equity injection which will be used to support the refinancing of DOF Subsea. The company’s largest shareholder, Laco AS, has committed to NOK200m ($21.8m) in new equity to support a refinancing solution.
Meanwhile, DOF Subsea has called a bondholder meeting in order to postpone an instalment due later this month, and is working to finalise a refinancing agreement before the end of the year.