Nordic American Offshore has been given a little more breathing room to make good on a 2015 loan for $150m.
Lenders DNB and SEB have given their fourth waiver extension since mid-February on covenants for a $136.5m drawdown, the latest being to 1 April.
Three other extensions expired on 22 February and 11 and 22 March.
"The constructive discussions with the lenders under the credit facility regarding the long-term capital structure and long-term financing needs of the company continue," the Emanuele Lauro-led company said today.
