Its move comes as part of a pact which sees the company bolster its balance sheet with a $150m fundraiser which will open the door for distressed deals.
The preferred equity sale has drawn in GoldenTree Asset Management and York Capital Management as investors.
Paddy Rodgers, CEO of Euronav, said in a statement: “Strengthening the Euronav balance sheet at this time of the cycle clearly distinguishes the company from its competitors.
“Euronav
