Havyard Group's bondholders have joined other creditors in providing covenants waivers for the company.
The move means the Norwegian shipbuilder now has waivers in place for all its key financial arrangements, after uncovering "significant accounting deviations" that sparked the breach.
Just over 90% of Havyard's bondholders voted on Wednesday to approve the change to the HYARD01 bond issue.
The Oslo-listed shipyard was forced to slice NOK 100m ($11.84m) off its bottom line for the fourth quarter 2018, after uncovering the deviations in March.
In early July, Havyard entered into agreements with its senior lenders to amend its existing bank facilities, as well as construction loan commitments for its next five newbuilding vessels.
Havyard said in early July it intends to redeem the HYARD01 bond loan in full by the end of this year, using cash from the sale of its holding in MMC First Process.
The yard's 75% stake in the a fish and seafood processing company is being sold to First Process and Credo Partners.
