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Reported by Vroon on 13 April 2018

Vroon reaches in principle restructuring agreement with its lender group

(Courtesy of Vroon B.V.)

Vroon has reached an in principle agreement with all its lenders regarding the terms of its financial restructuring. The agreement, which is only subject to final documentation and credit committee confirmation, is an important step forward towards the finalisation of Vroon’s financial restructuring.

The agreement marks the important step towards the final stage of a process initiated in late 2016 following continued challenges in shipping markets. Vroon is confident that the envisaged restructuring will provide generous runway to implement its strategic plans. Vroon wishes to thank its finance partners for their constructive support and trust in the business.

The Company is committed to continue taking measures to strengthen the Company’s financial condition during these turbulent times. Vroon’s focus remains the provision of safe, reliable and high quality services to its clients, supported by dedicated colleagues at sea and ashore.

Vroon is an international shipping company, with more than a century's experience and a professional shore-based staff of about 350 and around 2,800 marine personnel worldwide. Vroon operates and manages, under different brand names, a diverse fleet of approximately 200 vessels.

References

[1]

Vroon B.V. Press release - Vroon reaches in principle restructuring agreement with its lender group. URL: https://www.vroon.nl/News. [Date Accessed: 13/04/2018].

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