The shipping company, which is currently $1.03 billion in debt, said that it is considering financing alternatives to raise the cash to pay a $190 convertible bond loan due April 2015. Alternatives include raising equity, selling assets, establishing new loans, or refinancing existing arrangements. "A full restructuring of the company, including lease obligations and debt agreements might be the only alternative," the company said.
The company discussed the alternatives in its second quarter earnings report, in which the company reported a loss of -23 cents a share.
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