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Financing agreement signed

Financing agreement signed
TORM has entered into a financing agreement for six of the Company?s MR newbuildings to be delivered to the Company between 2010 and 2012.

TORM has entered into a financing agreement for six of the Company"s MR newbuildings to be delivered to the Company between 2010 and 2012.

TORM has entered into a financing agreement for six of the Company"s MR newbuildings to be delivered to the Company between 2010 and 2012. The agreement, which amounts to USD 167 million, has been concluded with Bank of China and Societe Generale as well as the Chinese export credit insurer Sinosure. The main conditions are in line with the Company's existing loan agreements.

Including this agreement TORM"s unutilized loan facilities and cash total USD 565 million while the remaining investments relating to the order book amount to USD 455 million as of 30 November 2009.

www.TurkishMaritime.com.tr

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