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Torm inks $130m in financing

Torm inks $130m in financing
Torm has raised up to $130m in new financing with four banks.

The shipowner has signed term sheet financing for up to $130m with ABN AMRO, Danske Bank, DVB and ING. The financing agreement is backed by the collateral of nine MR vessels.

"We are very pleased to continue the close cooperation with Danske Bank and to attract the three new strategic partners ABN AMRO, DVB and ING,” said Torm cfo Christian Søgaard-Christensen.

“With the recent DSF Facility from November, we have in the fourth quarter raised up to $160m in debt financing, which strengthens our financial and strategic flexibility."