Viking Supply Ships issues statement on financial situationCompany News // June 27, 2016
Referring to earlier stock exchange statements regarding ongoing discussions with its stakeholders to agree a revised long term financial platform, Viking Supply Ships says an in-principle agreement with its banks has been finalized, but remains subject to final credit committee approval.
"The company will continue its negotiations with its investors and remaining financial creditors with an aim to reach a final agreement with them as well," said Viking Supply Ships.
The statement continued: "In accordance with the principle agreements with the banks, the company will not fully pay interest, amortizations or other commitments to neither its financial creditors nor under Odin Viking bareboat charter contract, other than where an agreement for a long term financial platform has been reached. As a consequence of this, the company has received a notice of default from Nordic Trustee (on behalf of the bondholders)."
The company said it has been engaged in a dialogue with a few core bondholders and their advisor for some time, and said it would like to invite all bondholders to engage in such dialogue to reach an agreement. It asked holders of the bonds contact Nordic Trustee.
"If an acceptable solution is not reached with all relevant financial creditors, Viking Supply Ships will consider all structural and strategic alternatives," the statement concluded.