Earlier this week creditors agreed on terms for what is being described as an “emergency cash injection” of some $271 million for the holding company of STX Group.
According to reports, STX is receiving the money from its five main creditors in hopes of paying a maturing note.
Reports continued to note that the Group has even more corporate debt maturing this year.
By selling off some assets, STX has been able to raise capital, but that may not be enough – as rumors swirl over cruise-ship building yards in France and Finland – and the potential involvement of both governments.
