Overseas Shipholding (OSG) Falls on Liquidity Fears
Tweet
Share
E-mailGet Alerts OSG Hot Sheet
Join SI Premium – FREE
Today's swoon in Overseas Shipholding Group Inc. (NYSE: OSG) is being attributed to liquidity fears as talks with lenders may be hitting a stalemate.
Last month, Overseas Shipholding hired advisor Chilmark Partners while lenders hired Lazard and law firm White & Case.
Near term, Goldman Sachs and UBS were recently reported by Debtwire to be shopping $100 million in the company's revolver before a larger $1.5 billion facility matures in February 2013. This amount is said to be the shortfall in funding.
Shares are down 25 percent to $3.87.
Last month, Overseas Shipholding hired advisor Chilmark Partners while lenders hired Lazard and law firm White & Case.
Near term, Goldman Sachs and UBS were recently reported by Debtwire to be shopping $100 million in the company's revolver before a larger $1.5 billion facility matures in February 2013. This amount is said to be the shortfall in funding.
Shares are down 25 percent to $3.87.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Former Fed Chair Alan Greenspan dies at 100
- Air France-KLM (AF:FP) (AFLYY) PT Raised to EUR13.50 at UBS
- ITG targets $2.67 billion valuation in U.S. IPO
Create E-mail Alert Related Categories
Trader TalkRelated Entities
UBS, LazardSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
