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REM Offshore agrees debt standstill with major lenders

REM Offshore has agreed a debt standstill with its lenders ahead of its proposed merger with Solstad.

Marcus Hand, Editor

August 1, 2016

1 Min Read
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REM Offshore said that it had entered in to a debt standstill and deferment agreement with the majority of it secured lenders. The agreement covers the period 1 July through to 12 September and the lenders have agreed to suspend all amortisations and financial covenants for the period.

The company said all other operations would continue as normal.

Last week REM Offshore agreed to merge with Solstad with shareholder meetings expected to be held on 1 October, with completion of the merger in December.

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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