Norway's DOF Group has edged closer to a long-term refinancing of its $2bn debt as another lender agreed to a standstill of repayments.
The Oslo-listed owner said it has sealed a settlement agreement with a rebel bank that was blocking an account linked to a ship owned by subsidiary DOF Subsea.
As a result, the share of DOF Subsea's secured lenders that have now agreed suspensions of instalments has risen from 88% to 95%.
