French giant CMA CGM's restructuring saga, which began a year ago, drew to a close on February 12.It announced a broad refinancing agreement with its banks and finalised an earlier deal for equity injections worth $l50m from the French sovereign wealth fund and $100m from Turkey's Yildirim Group.CMA CGM said it had restructured its debt with its bankers, agreeing on a new covenant package "taking into account the industry's volatility".The banks also agreed to a refinancing of a credit line maturing in 2013 into new secured term loans with a three-year maturity for a total of€280m($374m).
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