Debt restructuring completed for Perseveranza di Navigazione

Debt restructuring completed for Perseveranza di Navigazione

Italy’s Perseverenza di Navigazione has reached an agreement with its lenders to restructure financial exposure worth $160m. No comment came from the Naples-based shipping company but sources familiar with the matter confirmed to Splash that an okay from the Italian banks involved in the restructuring (Banco Popolare, GE Capital, Unicredit and Centrobanca) arrived last month.

The agreement consists of rescheduling the loan repayments from 2017 to 2021 and does not envisage the sale of further ships after two bulk carriers (Cinzia D’Amato and Umberto D’Amato) were already offloaded one year ago.

As of today Perseveranza’s fleet is made up of five ships: three MR2 tankers, one handysize bulker and one post-panamax bulk carrier.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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