The deal means that the Bergen based company has now tapped NOK 500m of a NOK 550m frame facility with the proceeds used to buy back earlier Oslo stock exchange listed bonds and for general corporate purposes.
Atlantic Offshore which operates a fleet of 24 vessels bought back NOK 51.5m of its series one bonds (ATOFF01) at NOK 107.5 and NOK 16.0m of series two (ATOFF02) at a price NOK 105.5.
These bonds were due to mature in March and June next year but the series three issue (ATOFF03) has a 2018 maturity date.
Chief executive, Roy Wareberg, said more of the first two series would have been bought back if holders of the bonds had been prepared to sell.
But the refusal means that Atlantic Offshore based at Sotra near Bergen has boosted its liquidity by NOK 30m and Wareberg says it is possible that more of the first two series will yet become available to buyback.
The Atlantic Offshore fleet include Multirole Rescue Vessels and platform supply ships.
Although its bonds are listed the company is not quoted.
