J. Lauritzen owner secures CEO's refinancing plan

After resistance from J. Lauritzen's bondholders, sole owner Lauritzen Fonden must inject the carrier with extra capital. "This is a very important agreement for the carrier," says CEO Mads Peter Zacho to ShippingWatch. Repayment of bank loans will now be halved for four years.

BY TOMAS KRISTIANSEN

Published: 11.04.17 at 14:46

It was not until sole owner Lauritzen Fonden stepped in that J. Lauritzen was able to land the agreement with the owners of a NOK 500 million bond loan.

The fund had to dig into its pockets once again and hold up the cash-strapped sinking company, which has accumulated huge deficits in recent years.

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