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Overseas Shipholding (OSG -27.2%) shares took a huge hit today on concerns it has maxed out its...
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Tuesday, October 16, 2012, 5:11 PM ETOverseas Shipholding (OSG -27.2%) shares took a huge hit today on concerns it has maxed out its lending facilities and could soon face a liquidity squeeze. Goldman Sachs and UBS reportedly are shopping around ~$100M in the tanker's revolver, looking to create a market for the debt before OSG needs to refinance $1.5B early next year. Shares are down by two-thirds YTD.
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