* Says sets maturity to December 31, 2015 with company option to extend into
* Says no fixed repayment of principal until maturity date
* Says permanently waives any purported defaults or events of defaults.
* Says reached an agreement with a syndicate of its lenders led by Royal Bank
of Scotland Plc
* Replaces existing financial covenants,substitutes them with new covenants
that phase-in over next 3 years
* Under agreement, will receive a new liquidity facility in the aggregate
amount of $20 million
* Refile-eagle bulk shipping says agreement permanently waives any purported
defaults or events of defaults (adds dropped word)
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
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