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19 February 2020 The on-line newspaper devoted to the world of transports 23:44 GMT+1



February 11, 2020

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Original news
Moby explains the status of the negotiations with the bondholders and the company's lenders

Concerns the refinancing operation for 560 million euro ended in 2016

The Moby of the Honored Owners group announced today that it reached a confidential agreement and a standstill agreement, with 29 February, with a group of bondholders in the context of the bond 300 million euros with a maturity of 2023 beginning of 2016 by Honored Armatori. Moby pointed out that, under the standstill contract, the company will have to provide some due diligence information to the bondholder group. In addition The bondholder group will negotiate the terms of a possible restructuring operation and will abstain enforcement action against society or to request the repayment of the bonds.

Moby also specified that he was in negotiations, for a potential restructuring of the transaction, with its own lenders regarding the guaranteed revolving credit line 260 million euros on 1 February 2016, with a total of 260 million euros 2021 deadline, signed by the company and the Italian company (CIN) of the Honored Owners group. Moby pointed out have required them to sign an agreement "I'm not a

Moby concluded by noting that, as a result of these ongoing negotiations, will not make the scheduled payments to mid-February in relation to these bond loans and this line of credit.

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