The Danish owner says an agreement in principle has been struck with lenders to stretch its working capital facility until 31 March next year.
As part of the pact, Torm has asked for the loan to be halved to $50m, citing limited drawdown.
“The extension is subject to continued progress in the recapitalization process,” Torm said.
The owner revealed the agreement at the same time as reporting a reduced second quarter loss today.
Its
