Oceanteam misses bond paymentCompany News // October 25, 2017
Nordic Trustee AS, which acts as bond trustee for the bond issued by Oceanteam ASA, says the company is unable to make a bond payment.
Nordic Trustee said: "The issuer has informed the Bond Trustee that cash interest due on the Interest Payment Date on 24 October was not paid.
"The issuer has a five business days grace period to settle the payment in full. The issuer has informed the bond trustee that they are working to secure the necessary funds and expect the interest payment, including 12% per annum default interest, to be made within five business days of the original due date."