Torm Obtains Commitment To Refinance And Extend Existing Bank Facilities

March 16, 2023 08:34 AM CET | By Reuters

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)


Disclaimer

The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.