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Shipowner Danaos refinances billion dollar debt

Greek shipowner Danaos Corporation has signed a deal with its lenders to refinance debt totaling around USD 2.2 billion. The shipowner was hit hard by the collapse of Hanjin Shipping.

Photo: PR-foto/Hanjin Shipping

Danaos Corporation, the Greek container shipowner, has agreed with its lenders to refinance debt totaling around USD 2.2 billion.

The large debt burden was originally set to expire by the end of the year, but with the new credit agreement, Danaos has strengthened its capital structure and reduced debt by around USD 551 million, according to a press release.

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