The bulker owner told the US Securities and Exchange Commission (SEC) that the deal will also prevent the lenders from trading or transferring their warrants or shares as long as they remain in talks to restructure the company’s debt ahead of a key deadline.
The agreement amends a June 2012 deal that gave banks led by Royal Bank of Scotland (RBS) warrants for an eventual 20% stake in the company in exchange for waivers purported defaults on its loans, which totalled $1.29bn
