Golden Ocean has entered into a vessel acquisition deal with Fredriksen, says an article published in Splash 247.
About the deal
Golden Ocean Group has entered into a deal with Fredriksen’s family company Hemen Holding to acquire 18 bulk carriers.
The deal is priced at around $752m Is made up of:
- 10 Newcastle may bulkers built between 2019 and 2021 and
- 8 kamsarmaxes built between 2020 and 2021.
Golden Ocean says the deal will add significant scale to the company’s operating fleet, contribute to reducing cash breakeven levels, and is in line with its fleet renewal strategy.
Loan facility offered
Affiliates of Hemen have agreed to provide a loan facility of $414m to give Golden Ocean time to arrange long-term financing for the vessels.
A private placement of around $338m has been executed with Hemen pre-committing to subscribing for its allocation valued at $169m.
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Source: Splash 247
