ROV NEWS: Stolt Offshore comments on covenant waiver extensions and
Posted on 19.12.2003 - 03:17 EST in ONSHORE NEWS by Rons_ROV_Links
Stolt Offshore said on 18th December that it is concluding the
administrative aspects of its covenant waiver extension and continues discussions with its lenders towards a long term
Stolt Offshore also confirmed that it was approached yesterday by Pareto Securities ASA, on an unsolicited
basis, to consider a capital raising alternative.
While Stolt Offshore is receptive to interest in the company, it wishes to clarify that it continues to work, as planned,
with its existing advisors to evaluate the various alternatives in restructuring its balance sheet.
December 19, 2003
Source: Offshore Shipping Online