According to Floatel, the agreement has the approval of a “significant majority” of the company’s shareholders and the 1L bondholders and 2L bondholders that are party to the lock-up agreement.
Floatel International, an associated company of Keppel Offshore & Marine (Keppel O&M) says it has reached an agreement with its lenders on Jan 9.
Under the agreement (also known as the collateral discharge agreement), Floatel will deliver full discharge of security of the bank vessel assets.
