Excel Maritime is likely to find restructuring a more complex task now that its lead lender, Nordea Bank, has sold mortgage debt to prominent US finance funds, according to experts this week who disagree on whether bankruptcy is now more likely.
At the same time, Nordea’s sale of $150m in senior debt to finance players Oaktree Capital and Goldman Sachs indicates the cumulative long-term frustration the Nordic bank had in dealing with Excel principal Gabriel “Villy” Panayotides, the experts say.
The
