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Siem Offshore Reaches Agreement with the Canadian Lenders

Source: www.gulfoilandgas.com 7/2/2020, Location: North America

Secunda Canada LP, a 100% owned company of Siem Offshore Inc., has entered into a settlement agreement with all 3 of its Canadian lenders, where all debt is eliminated by a 61% payment. The requirement under the Standstill Agreement signed on 26th May 2020 to obtain participation by the Canadian banks is hereby satisfied.

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