Win Win

On Monday, Omega Navigation Enterprises, Inc. (“Omega”) announced the re-structuring of its Senior Debt Facility with HSH Nordbank into two pieces. The senior facility, which is secured by first mortgages on the company’s fleet, was reduced from $284.2 million to $242.7 million. The pay down gets the senior lenders to where they would have been in 2011 when a bullet payment in this amount would have been due. The loan

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