The Nasdaq-listed bulker owner on Wednesday said it reached an agreement with a syndicate led by the Royal Bank of Scotland that will resolve a dispute over defaults and see nearly $1.2bn in debt converted into a term loan.
In addition to amendments of a revolver that will mature at the end of 2015 or even later once the transformation is sealed if the company exercises an option to push it back by another 18 months, lenders have agreed to back a new liquidity facility worth $20m.
“Eagle
