Torm refis bank debt as IMO 2020 kicks in

Adobe_shipping_230x150_22Jan2020
By Mike Turner
22 Jan 2020

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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