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

Want more? Subscribe now!

Newsletter Signup

Subscribe to Marine Daily for breaking marine news