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TORM extends temporary agreement with its bank group

Sunday, 19 February 2012 | 00:00
TORM and the Company's bank group have extended the deferral of instalments and covenant standstill announced on 17 January 2012. The agreement is after the extension valid until 1 March
2012 where TORM also will publish the 2011 annual report.
"I am satisfied to have agreed a new extension with the bank group. The negotiations continue towards a comprehensive financing solution," says CFO Roland M. Andersen.
TORM is one of the world's leading carriers of refined oil products as well as a significant player in the dry bulk market. The Company runs a fleet of approximately 165 modern vessels in cooperation with other respected shipping companies sharing TORM's commitment to safety, environmental responsibility and customer service.
TORM was founded in 1889. The Company conducts business worldwide and is headquartered in Copenhagen, Denmark. TORM's shares are listed on NASDAQ OMX Copenhagen (ticker: TORM) and on NASDAQ in New York (ticker: TRMD).
Source: TORM
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