Siem owner offers to buy bonds

Kristian Siem's company Siem Industries, which owns the offshore carrier Siem Offshore, is offering bondholders in the company to buy bonds worth upwards of NOK 200 million in exchange for approval of the plans presented last week.

Photo: MPA

Siem Industries, under control of Norwegian businessman Kristian Siem, is now offering to buy bonds from bondholders in Siem Offshore upwards of a total NOK 200 million (EUR 22 million).

In return, the lenders would have to approve the company's plan, presented last week, to extend the deadline on two bond loans, according to a brief to the Oslo Stock Exchange.

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