RESTRUCTURING

摘要

Danish shipping firm torm said a financial restructuring plan has been tabled by more than half of its lenders together with Oaktree Capital Management. The lender group represents 61% of Torm's lender base and is made up of the remaining original lenders that have continued to hold the company's US$1.4bn debt pile. The other 39% of the debt is now held by a group of 40 new lenders, which acquired the debt in Europe's secondary loan market between March and May this year when some of the 12 original lenders decided to sell out of their positions ahead of a potential financial restructuring. The restructuring plan includes a debt for equity swap and a trade merger solution that would involve a merger between vessels owned by Oaktree Capital Management and those owned by Torm.