Vallianz Holdings defers distribution for US$22.5m perpetual securities

OFFSHORE support vessel owner and operator Vallianz Holdings is postponing a perpetual securities distribution originally due on Friday.

The company said it has exercised its rights to defer the payment of distributions for its US$22.5 million 4 per cent senior perpetual securities.

This was done on the basis that in the preceding 12 months, the company did not make any payments for obligations junior to the perpetual securities.