Norway's Boa Offshore is spending surplus liquidity on a bond buy-back.
A bondholder director of subsidiary Boa OCV had proposed that some of the NOK 134m ($14.9m) in the bank be used to redeem NOK 25m of its NOK 1.36bn, 9.75% issue due in 2024.
The company said it also has "certain contract employment" for the two offshore construction vessels it owns.
