In a major development, DHT Holdings, Inc. announced that they have a secured financing commitment for their earlier publicized scrubber retrofit project. The $50 million scrubbers funding is subjected to final documentation.
Details of the Project
- The financing is structured through an increase of the existing $300 million secured credit facility that entered into the second quarter of 2017.
- The increased facility will bear the same interest rate equal to Libor + 2.40%.
- The facility will be immediately available and have quarterly repayments of $2.5 million commencing second quarter 2020.
- It is aligned with the implementation of IMO 2020 and expected some economic benefits.
Although other terms and conditions remain unchanged.
All seven banks in the existing facility, participated in the increased facility: Nordea, ABN Amro, Danish Ship Finance, DNB, ING, SEB and Swedbank.
Commitment & Vision
Co-CEOs Svein Moxnes Harfjeld and Trygve P. Munthe said: “We are very pleased with the solid support from our banking universe in financing this attractive investment for DHT. We have obtained competitive terms with a structure tailored to the execution of the project.”
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Source: DHT Holdings, Inc.