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Nordic American Offshore secures new credit and pushes back debt payments

After multiple short-term waiver extensions, NAO lenders of a $150m credit facility agreed to grant one until the end of January 2020 and to offer a new credit line to help NAO repay its outstanding debt. NAO also agreed to buy 13 vessels from Scorpio Offshore Holdings in what chief executive Emanuele Lauro hailed as a new beginning for the company

The Scorpio Group-led firm extends $150m credit facility waivers to January 2020 and secures new credit

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