Viking Supply Ships’ investors have approved a standstill agreement, which will stay the Oslo-listed company’s financial obligations to bondholders until April 13 while it tries to improve its liquidity.
The proposal was greenlit by 84.69% of bondholders at a meeting today.
The agreement relates to investors in Viking’s senior unsecured open bond issue 2012/2017, for which the next interest payment was due on March 21. The remittance was paid in cash and bonds two days later.
Viking’s standstill agreement with its bondholders is conditional upon the standstill remaining in force with its senior secured lenders. In March, the Swedish company extended the standstill agreement it has with its banks until April 13, from March 20 previously.