Floatel International Ltd: Update regarding standstill extension and discussions with secured creditors

The Company remains in negotiations with its key stakeholders, including all lenders under the credit facilities and an ad hoc committee of holders of 1L Bonds (the “AHC”). On 14 April 2020 the Company entered into the Forbearance Agreement with the AHC. The Forbearance Agreement has now been extended until 15 October 2020.

The vessels that are on charter continue to operate as normal and it is business as usual for the Group’s operations.

For further information, please contact:
Peter Jacobsson, CEO, Floatel International AB – Tel: + 46 31 352 07 00
Mob: +46 76 856 36 18
Tomas Hjelmstierna, CFO, Floatel International AB – Tel: + 46 31 352 07 00
Mob: +46 70 261 09 01