TORM expects temporary agreement with bank groups to be extended soon

By Caroline Salls

Pittsburgh, Jan. 17 - TORM A/S expects its temporary agreement with its group of banks to be extended shortly, according to a news release.

The company said the banks agreed on Dec. 5 to temporarily defer installments and grant a covenant standstill until Jan. 15.

TORM is a Copenhagen-based carrier of refined oil products and is involved in the dry bulk market.

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