Stig Remoy-led Olympic Subsea has ended its relationship with a bank that had refused to take part in its refinancing talks.
The unnamed lender had signalled it wanted to exit the banking group trying to reorganise NOK 2.7bn ($306m) of the Norwegian offshore vessel owner's fleet loans.
The company revealed in its third-quarter report that an agreement was reached in November for the transfer of a ship financed by the lender, resulting in the loan being cancelled.
