It has been a torrid few weeks in the bond markets for French liner giant CMA CGM, during which the value of its debt has plummeted.
CMA CGM's chief financial officer Michel Sirat blamed the fall on the effect of coronavirus and acknowledged it will take a few weeks for the bond to recover.
But the Marseilles-based operator took the market by surprise this week by unexpectedly revealing a three-year extension to $535m of unsecured credit lines with banks.
