Back in April, TORM announced a rights offering of $100 million. Subsequently, as part of the amendment of its revolving credit facility which extended the maturity from 2013 to 2015, the company agreed to inject the $100 million of cash equity by mid-December 2011 at the latest. If possible, the capital markets have become even more volatile making such an offering challenging at best.
This is only an excerpt of Not an Easy Sale – TORM Equity Offering Gets More Challenging
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Tags: · Gabriel Panayotides, Ms. Eirini Nomikou, Torm
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