Bondholders give Endúr a waiver after breach of €100m loan terms

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The creditors support the financing plan.

It was last week that it became known that Endúr, owner of aquaculture suppliers Artec Aqua and Sjøsterk, stated that the company had violated its loan terms for a bond loan of €100 million.

The CEO, Hans Olav Storkås, was fired after the blunder.

On Friday, Endúr stated that it has received binding support from more than two thirds of the company’s bondholders for a waiver of breaches of the company’s loan terms (covenants).

“This agreement provides a basis for investor confidence in both the equity and credit markets,” said chairman Pål Reiulf Olsen.