OSG asks lenders to loosen leash

MAY 28, 2015 — Tanker operator Overseas Shipholding Group, Inc. (OSG) (NYSE MKT:OSGB) has been asking its lenders to loosen its leash a little and give it more flexibility. Among other things, it wants fewer restrictions on its ability to agree to mergers, consolidations and acquisitions. And it wants up to $75 million in Pool Level Debt Capability so that it can consider more pool employment opportunities for some vessels.

OSG pitched its proposals in a presentation to lenders yesterday. Though the presentation is labeled “Confidential,” it’s available for all to see right HERE