TORM, certain of its lenders and Oaktree have entered into a new Restructuring Agreement, the company said in its press release. The parties are now soliciting support from the remaining lenders. TORM will provide further details on the proposed restructuring in due course.
“I am proud that TORM, certain lenders and Oaktree now have agreed and signed the new Restructuring Agreement. This is an important milestone in the restructuring process. Next step is to get the required lender support in place over the coming weeks to be able to implement the restructuring ,” says Chairman of the Board Flemming Ipsen.