Torm lenders present proposal for debt restructuring

Torm has received a concrete restructuring proposal from a a group of the carrier's current lenders representing more than half of Torm's ship financing, and Oaktree Capital Management.

BY OLE ANDERSEN

Published: 29.09.14 at 08:24

Torm has received a proposal for a concrete restructuring agreement from the carrier's current lenders as well as Oaktree Capital Management.

"With reference to company announcement no. 14 dated 16 September 2014 regarding the ongoing restructuring process, TORM can inform that the Company has received a proposal on a specific transaction from a group of the current lenders, representing more than half of Torm’s ship financing, and Oaktree Capital Management," says Torm in a corporate statement on Monday.

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