Torm extends temporary bank agreement
SHIPPING: Torm and the Company’s bank group have agreed on an extension of the deferral of instalments and covenant standstill announced on 5 December 2011. The agreement is after the extension valid until 15 February 2012
The agreement is subject to the continued progress of the negotiations towards a financing solution.
“All banks remain committed to a swift and mutually acceptable solution", says Danske Bank, Danish Ship Finance and Nordea in a joint statement.
“I am satisfied that we now have an extension of the temporary bank agreement and that the negotiations are progressing well”, says CFO Roland M. Andersen.
Source: Torm / maritimedanmark.dk