The restructuring is expected to close by the first quarter of 2012, the Jacksonville, Florida-based company said.
Global Hunter Securities has agreed for $15 million debtor-in-possession (DIP) financing to restructure Trailer Bridge's balance sheet, the company said.
In October, the company entered into forbearance agreements with lenders related to its credit facility and loan agreement.
TrailerBridge, whose chief executive resigned in October, said it will continue its regular vessel deployment and sailing schedule during the proceedings. (Reuters)
