Siem Offshore has moved closer to a standstill deal with banks after clearing its Canadian debt.
The Olso-listed offshore vessel owner's subsidiary Secunda Canada has made a payment of 61% of the outstanding amounts owed to three Canadian lenders in a full and final settlement of its borrowings.
This was one of the conditions of a standstill deal put in place with European lenders in May to secure liquidity in the coronavirus-related downturn.
