Torm warning: Danish tanker firm issues further debt mayday

Beleaguered Danish shipping firm Torm will breach its covenants again if the difficult tanker and bulk market conditions of 2012 drag on, it has announced. Having completed a substantial debt restructuring last November, it said it might have to do another one.

  • 09 Jan 2013

Freight rate levels in the product tanker market increased in the fourth quarter of 2012, Torm said, and if these improved conditions continue for a number of years, then the company will be able to meet its new financial covenants and be able to service its debt.

“Simply ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access:

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%