VLCC owner DHT Holdings continues to move proactively to buttress its balance sheet with today’s announcement that it has taken out $67.5m of the $105.9m convertible notes due to mature in October 2019 through an exchange offer.
DHT said holders have agreed to exchange the $67.5m piece for for $74.2m in new convertible notes maturing in 2021, effectively buying the tanker owner two more years of runway on repayment.
