Nordic Shipholding completes restructuring

Shipping company Nordic Shipholding has completed a planned restructuring, and at the same time the carrier converts debt for a total of USD 72.1 million into new shares.

Nordic Shipholding, which has gone through somewhat tumultuous times following the financial crisis, has completed a planned restructuring process, says the company via the stock exchange.

This means that Nordic Maritime, a subsidiary of equity manager PAG, along with several other of the company's creditors, converts debts for a total of USD 72.1 million into new shares. And beyond this, Nordic Maritime provided the company with a USD 2 million cash injection.

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