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French Shipping Giant’s Debt Plan At Risk Amid Virus Fears

  • CMA CGM is trying to refinance $400m in credit lines in March
  • Company moves more than 10% of containers out of Asia
Updated on

The coronavirus outbreak is threatening to scupper a debt refinancing for the world’s third-largest container shipping company.

France’s CMA CGM SA is aiming to start refinancing its debt pile by the end of next month. The Marseille-based company, one of the biggest maritime carriers out of China, is seeking to extend about $400 million of loans and is also in talks with creditors to refinance about 725 million euros ($784 million) of bonds due in January.