FSL Trust Management Pte. Ltd., announced that six wholly-owned subsidiaries of the Trust have entered into a US$ 15.0 million facility agreement with Chailease International Financial Services (Singapore) Pte. Ltd., reports Market Screener.
About the agreement
The Board of Directors (the “Board”) of FSL Trust Management Pte. Ltd., as trustee-manager (the “Trustee-Manager”) of First Ship Lease Trust (“FSL Trust” or the “Trust”), refers to its announcement dated 1 March 2021 and further announces that six wholly-owned subsidiaries of the Trust have entered into a US$ 15.0 million facility agreement with Chailease International Financial Services (Singapore) Pte. Ltd. in relation to the refinancing (the “Loan”) of the vessels Cumbrian Fisher, Clyde Fisher, Shannon Fisher, Solway Fisher, Seniority and Superiority (the “Vessels”).
Loan maturity period
The Loan has a maturity of 5 years from the date of drawdown, will be repaid in 20 consecutive quarterly instalments of US$ 0.75 million each and bears interest of 3.975% p.a. above USD Libor. The Loan is secured by, inter alia, mortgages over the Vessels, assignments of the earnings and insurances of the Vessels and a guarantee of the Trust.
The Loan will be made available to the wholly-owned subsidiaries of the Trust subject to certain customary conditions precedent being met.
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Source : Market Screener
