TORM involved in further finance discussions

Oct 03 2014

TORM has received a proposal on a specific transaction from a group of its current lenders without elaborating further.

These represent more than half of TORM’s ship financing and Oaktree Capital Management.

The company said that TORM’s board has initiated discussions with the relevant stakeholders to evaluate the proposed deal and its potential implementation.

At this stage, it is not possible to predict the outcome of the evaluation, or the timescale for a potential deal, the company said in a statement this week.

However, further announcements will be made at the appropriate time, TORM said. 

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