Olso-listed Fairstar Heavy Transport has got an agreement with its bondholders to stave off any breach of covenant.
At the same time, the operator has announced a new loan with ship finance banks DNB Nor, ING and HSH Nordbank.
The modified bond agreement on paper worth NOK 300m secured the necessary two-thirds agreement from the bondholders.
The lending facility is for $167m and runs for five years at 300 basis points over Libor.
According