Nordic American Offshore (NAO) has reached a comprehensive solution with lenders that extends existing waivers and could result in a new credit facility.
The Norwegian owner of offshore supply vessels (OSVs) will see existing waivers on a $150m lending from DNB Bank and SEB Bank extended through January, according to sources in the finance market.
Subject to certain conditions, there is also the prospect that the outstanding amount drawn under the current facility — about $133m — will be rolled over into a new loan that matures in 2023, the sources said.
