ShippingWatch

Torm settles its finances: "This means a lot to us"

Torm has spent the past six months settling its new credit facility with a large consortium of European shipping banks. "We get a liquidity that will be manageable for the next many years," CFO tells ShippingWatch.

Photo: PR / Torm

Chief Financial Officer Kim Balle has been busy in recent months, where he has, along with other colleagues at Torm, been negotiating the shipping company's future credit facilities with a series of banks.

On Tuesday, the company announced a new large refinancing for USD 496 million that consists of two separate credit facilities with a series of European shipping banks.

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