Drydocks World confident on restructuring debts
Syndicated facility lenders will be asked to sign up to the lock-up agreement
Dubai: Drydocks World - one of the largest ship repairing and ship building facilities in the Gulf - said it remains confident on securing necessary support of its syndicated lenders on restructuring its debts.
"Following from Drydocks World's formal launch of its restructuring proposal at its all lender meeting in Dubai on March 8, the group has taken one step nearer to successfully concluding its restructuring by signing a lock-up agreement intended to formally secure its lenders support," it said in a statement.
The company said its syndicated facility lenders "will be asked to sign up to the lock-up agreement and hence formally confirm their support for the group's proposals."
"The group remains extremely confident that it can secure the necessary support of its syndicated lenders by April 2 to successfully implement its restructuring, according to Khamis Juma Buamim, Chairman, Drydocks World and Maritime World," it said.
