Drydocks World has expressed confidence in obtaining support from a majority of its creditors to restructure its debt under its $2.2bn syndicated facility, Seatrade Asia online reports. Drydocks World announced on Thursday that by 8 March, it will present the terms of its proposal and the steps required to implement it along with the associated timeline to all its syndicated lenders.
“With the support of its wider stakeholders, significant progress has been made over recent months in all aspects of the restructuring,” the company said in a statement.
Drydocks World is targeting a completion date of its restructuring by July 2012, according to Khamis Juma Buamin, chairman of Drydocks World and Maritime World.
In Asia, Drydocks World has yards operating in Dubai, Singapore and Indonesia. Collectively these yards encompass 29 building berths, eight floating docks and a specialised rig building yard.
“With the support of its wider stakeholders, significant progress has been made over recent months in all aspects of the restructuring,” the company said in a statement.
Drydocks World is targeting a completion date of its restructuring by July 2012, according to Khamis Juma Buamin, chairman of Drydocks World and Maritime World.
In Asia, Drydocks World has yards operating in Dubai, Singapore and Indonesia. Collectively these yards encompass 29 building berths, eight floating docks and a specialised rig building yard.