January 14, 2021

Naviera Armas, owner of Trasmediterránea, has closed an agreement with its main financial creditors (Barings, Bain Capital, Cheyne Capital and JPMorgan) to convert a total of 240 million euros in debt into capital and, in addition, receive a liquidity injection of up to 100 million euros through a bridge loan, according to Expansión.

To save the current economic situation, the Armas family intends to contribute 40 million with the sale of the (fast ferry) ship VILLA DE TENOR. In this way, Armas will be able to maintain control of the group’s rights.