Fesco announced today that it has reached another milestone in restructuring hundreds of millions of dollars of debt.
A majority of Fesco shareholders recently approved guarantee for two dollar-denominated bonds totaling $655m in outstanding debt, the Russian boxship owner announced today.
The bonds, consisting of 8% senior secured notes due 2018 and 8.75% senior secured notes due 2020, were initially issued as $875m in debt, according to Fesco.
