Torm given another chance for a makeover

A number of the Danish tanker owner’s lenders have come up with a second restructuring packaging to overhaul the shipping company
Torm given another chance for a makeover

Torm A/S has announced that Oaktree Capital and other lenders have devised a second restructuring plan, after the company’s first bank backed overhaul.

The Danish tanker owner says that more than half of its lenders are involved.

Torm’s board of directors is currently in discussion with relevant stakeholders to evaluate the deal and how it might be put into practice.

In a statement the company explains: “At the current stage it is not possible to predict the outcome of the evaluation or the time horizon for a potential deal.”

XXX

by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

Tracker Pixel for Entry