The Swedish player has been looking to refinance Nkr2.75 billion ($329 million) debt, of which Nkr700 million is due for repayment this year, as it has faced the threat of bankruptcy.
However, bondholders have now agreed to a key plank of the plan entailing conversion of 50% of outstanding bonds into shares in Oslo-listed Viking, with the remaining 50% of bonds to be redeemed in cash at a price corresponding to 35% of par value.
Viking
