Bergen stretches loan

Norwegian shipbuilder Bergen has won another six months to repay a loan of NOK 150m ($24.5m).

The cash was part of a NOK 180m facility sealed in January to refinance its offshore division.

The banks were repaid NOK 30m in the first quarter.

The rest was due by 30 June, but this has been extended to 31 December.

Bergen said it had also agreed a similar deal for NOK 20m loaned by Flyfisk, a company controlled by one of its main shareholders, Magnus Stangeland.

It added: “Bergen Group has initiated processes in order to establish a long term financing of the group during the second half of 2014.”