Tuesday, November 20, 2012

[Marine] Bergen in breach of covenants

Bergen in breach of covenants

The financial statements for Q3 2012 for Bergen Group ASA caused a breach of the covenants in existing loan to the Bergen Group ASA, the Norwegian shipbuilder said on 15th November.

The group has therefore established dialogue with Norwegian Trustee who manages the bond loan, and the bond owners will now be summoned to a bond holder meeting, it added.

Losses at the group's shipbuilding division have offset stronger offshore and services divisions.

Bergen has a bond of NOK 330m ($57m) due for repayment in July next year.



Published : November 19, 2012


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