TORM plc obtains commitment to refinance and extend existing bank facilities at very attractive terms
TORM obtains commitment for refinancing of USD 433m bank and leasing agreements with two new bank facilities, thereby extending debt maturities until 2028 and with a possibility to extend most of the debt expiration to 2029. Further, TORM has obtained commitment for financing of additional second-hand vessels for up to USD 123m with the same expiration terms. The refinanced debt will be structured as a syndicated facilities agreement with six to nine banks of up to USD 322m, which will refinance 21 vessels built between 2009 and 2020, and a bilateral facilities agreement with HCOB of up