DOF, the Norwegian-listed offshore services vessel owner, has resumed repurchasing of bonds that are due to mature soon.
“DOF Subsea AS, a subsidiary of DOF ASA, has purchased NOK57 million (USD6.95 million) in its bond loan DOFSUB06. The net outstanding after the transaction is NOK504.5 million,” the company said in a statement.
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In its interim report for the second quarter of 2015 on 12 August, DOF said the group had refinanced all balloon payments on secured debt in DOF Rederi and Norskan, two units of the group, with maturity in 2015 and 2016, totalling approximately NOK1.4 billion in new facilities.
“Further, DOF Subsea has refinanced one loan facility in July, in addition to starting buying back bonds with maturity this year and next year,” the company said in the report.
On 19 August, DOF Subsea AS, purchased bonds in its bond loans DOFSUB06 and DOFSUB05.
“In DOFSUB06 the Company has bought NO 138.5 million. The net outstanding after this is NOK561.5 million. In DOFSUB05 the Company has bought NOK225.5 million. The net outstanding after this is NOK 524.5 million,” DOF said.
This post was sourced from IHS Maritime 360: View the original article here.
