TORM secures expected lender waiver for loan covenants as of June 20

By Susanna Moon

Chicago, June 16 – TORM said it obtained the expected covenant waiver from its lenders, which means the company will not need to test compliance with loan covenants as of June 30.

“TORM continues the constructive dialogue with long-standing and new lenders regarding a long-term capital structure and expects them to remain supportive in this process,” according to a company press release.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.