Siem Offshore is asking its bondholders to extend the maturity date of two bonds by 2.75 years.
The Norwegian owner has proposed certain amendments in its effort to complete a refinancing of $1.5bn of debt.
Besides the maturity extension, Siem has proposed to reduce the interest on the bonds by 0.75%.
The company will be entitled to settle interest payments by issuing additional bonds, it said.
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