Havila Holding trustee declares default on 2017 senior secured bonds

By Caroline Salls

Pittsburgh, March 14 – Havila Holding AS is in default on its senior secured callable bond issue 2014/2017, according to a notice from bond trustee Nordic Trustee ASA.

The trustee said Havila Shipping ASA suspended payments of interest and amortization to financial creditors in February.

In addition, Havila Shipping did not make a NOK 12 million coupon payment due on Feb. 29.

Holders of more than 20% of the bonds instructed the trustee to declare the default, the notice said.

Havila provides supply services to the offshore oil and natural gas industry. It is based in Fosnavag, Norway.

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