Nordic American Offshore Ltd. Announces Agreement to Further Extend Waiver Period.
25 Março 2019 - 9:22AM
Hamilton, Bermuda-March 25, 2019-As advised by
Nordic American Offshore Ltd. (the "Company" or "NAO") in its press
release on March 12, 2019 the waivers under the Company's
$150,000,000 Revolving Credit Facility, dated March 16, 2015 (the
"Credit Facility") had been extended until Friday March 22,
2019.
The constructive discussions with the lenders
under the Credit Facility regarding the long-term capital structure
and long-term financing needs of the Company continue and they have
agreed to further extend the waivers until April 1, 2019 to
accommodate the process.
About Nordic American Offshore Ltd.
NAO is a Bermuda-based company listed on the New
York Stock Exchange. It owns and operates a fleet of 10 modern
harsh environment offshore supply vessels built with the latest
technology available. From its operating offices in Norway and
elsewhere, NAO is positioned to support a global business and take
advantage of the expected upturn in oil service activity in the
North Sea and globally. Additional information about the Company is
available on the Company's website at www.nao.bm.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING STATEMENTS
Matters discussed in this press release may
constitute forward-looking statements. The Private
Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements in order to encourage
companies to provide prospective information about their
business. Forward-looking statements include statements concerning
plans, objectives, goals, strategies, future events or performance,
and underlying assumptions and other statements, which are other
than statements of historical facts.
The Company desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. The words
"believe," "anticipate," "intend," "estimate," "forecast,"
"project," "plan," "potential," "may," "should,"
"expect," "pending" and similar expressions identify
forward-looking statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, our management's examination of historical operating
trends, data contained in our records and other data available from
third parties. Although we believe that these
assumptions were reasonable when made, because these assumptions
are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or
projections. We undertake no obligation to update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Important factors that, in our view, could cause
actual results to differ materially from those discussed in the
forward-looking statements include the strength of world economies
and currencies, general market conditions, including fluctuations
in charter rates and vessel values, changes in demand in the PSV
market, as a result of changes in the general market conditions of
the oil and natural gas industry which influence charter hire rates
and vessel values, demand in platform supply vessels, our operating
expenses, including bunker prices, dry docking and insurance
costs, governmental rules and regulations or actions taken by
regulatory authorities as well as potential liability from pending
or future litigation, general domestic and international political
conditions, potential disruption of shipping routes due to
accidents or political events, the availability of financing and
refinancing, vessel breakdowns and instances of off-hire and other
important factors described from time to time in the reports filed
by the Company with the Securities and Exchange Commission.
Contact Information:
Nordic American Offshore Ltd. +377 9798 5717 (Monaco) +1 646 432
3315 (New York)
Web-site: www.nao.bm
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