Hyundai Merchant Marine has secured bondholder backing for a debt restructuring.
Investors holding bonds worth KRW 630bn ($529m) in the shipowner approved the debt for equity plan today, HMM says.
The owner will meet with other bondholders tomorrow as part of an effort to restructure total bond debt of KRW 800bn.
It comes a day after HMM said it soon expected to reach an agreement on charter-fee cuts with third-party shipowners.
It
