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Kalkine Media ASX Share Market News & Research

Torm Obtains Commitment To Refinance And Extend Existing Bank Facilities

March 16, 2023 08:34 AM CET | By Reuters
Torm Obtains Commitment To Refinance And Extend Existing Bank Facilities
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March 16 (Reuters) - Torm PLC:

* OBTAINS COMMITMENT FOR REFINANCING OF USD 433M BANK AND LEASING AGREEMENTS WITH TWO NEW BANK FACILITIES

* EXTENDING DEBT MATURITIES UNTIL 2028 AND WITH A POSSIBILITY TO EXTEND MOST OF DEBT EXPIRATION TO 2029

* HAS OBTAINED COMMITMENT FOR FINANCING OF ADDITIONAL SECOND-HAND VESSELS FOR UP TO USD 123M WITH SAME EXPIRATION TERMS

* REFINANCED DEBT WILL BE STRUCTURED AS SYNDICATED FACILITIES AGREEMENT WITH SIX TO NINE BANKS OF UP TO USD 322M

* CLOSING OF AGREEMENTS IS SUBJECT TO DOCUMENTATION, IS EXPECTED DURING Q2 OF 2023 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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