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    Trico Marine gets default, demand notice on notes

    News // October 1, 2004
    Trico Marine Services has received a notice of default and guarantee demand from Bear Sterns' corporate lending unit. Bear Sterns sent Trico Marine the notice for non-payment of interest due on its US$250 million, 8.875 per cent senior notes due 2012.

    Cross-default provisions mean that Trico subsequently violated the terms of the loan.

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