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Pricing May No Longer Be an Issue

Yesterday, TBS International announced that it had secured a waiver of certain covenants from its lenders for an additional 30-day period so that negotiations of new or amended credit facilities could continue. The lenders consist of syndicates led by Bank of America, The Royal Bank of Scotland and DVB Group. There are also loan agreements with AIG Commercial Equipment, Commerzbank, Berenberg Bank and Credit Suisse.

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