Torm refis bank debt as IMO 2020 kicks in
Denmark's Torm has signed $496m of bank loans, as new regulations affecting the global shipping industry take hold.
Torm's deal is made up of a $341m 2026 syndicated loan, a $110m due 2025 term facility and a $45m revolving credit facility due 2026. The syndicated and term loans are secured against ships.Lenders on the syndicated portion are Danske Bank, ING, ABN Amro, Nordea, Swedbank, Crédit Agricole ...
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