An expanded refinancing plan will remove MPC Container Ships' (MPCC) reliance on improving charter rates, analysts have said, as bondholders approved the deal.
The Oslo-listed feedership owner came out on Thursday with a new offering to bondholders that will generate an extra $15m of liquidity as the company seeks to avoid bankruptcy and head off a bondholder revolt.
MPCC had initially been hoping to raise $15m through a share sale that would prevent it launching a "fire sale" of ships.
