Far Eastern Shipping Company's (Fesco) board has proposed amending the terms of a bond issue to extend its payment date.
The Russian company wants to postpone the next 20% amortisation payment due on 31 May and push it back to 29 November.
It then plans to repay 40% of the bond principal, according to a regulatory filing.
The company decided to miss another bond payment earlier this month as it launched a strategic review of its financial structure.
Fesco
