In a significant fillip to Hanjin Shipping’s urgent restructuring plans bondholders have agreed to extend the maturity of debts by four months.
Korean newswire Yonhap reports that the proposal to extend the repayment of $30m worth of debt that matures next week was okayed by bondholders.
As part of Hanjin’s restructuring plans it must, like compatriot Hyundai Merchant Marine (HMM), get the fees it pays for its chartered in fleet cut by around 28% or else face court receivership.
