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Viking Supply bondholders approve standstill agreement

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.

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Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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