Solstad Offshore aims to resolve debt covenant talks in Q2

Solstad Offshore

Solstad Offshore , which provides service and construction vessels to the oil industry, aims to secure a deal to ease its debt covenants by the end of the second quarter, the company said on Tuesday.

Solstad said late on Monday that negotiations regarding the covenants were ongoing.

“We’re in talks with the banks for relief … we have a good dialogue with the banks. We hope to land something in the second quarter,” Chief Financial Officer Sven Stakkestad told investors and analysts.

The company is talking to all its ten banks, he added.

[reuters]

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