Cecon 11% bond interest payment grace period extended to Sept. 24

By Caroline Salls

Pittsburgh, Sept. 17 - Cecon ASA has received an extension to Sept. 24 of the grace period for making the May 4 interest payment on its 11% bond issue, according to a news release.

Trustee Norsk Tillitsman said the extension will allow bondholder discussions and maintain stability at the company.

The grace period was previously scheduled to expire on Sept. 17.

Cecon is an independent subsea installation contractor located in Arendal, Norway.

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