Okeanis Eco Tankers Seals $113m For Debt Refinancing

Credit via Bizz Buzz

Greece’s Okeanis Eco Tankers has secured a new $113m senior secured credit facility from Dutch lender ABN AMRO to refinance existing debt at improved terms, says an article published on Splash.

Company’s scrubber financing

The proceeds will be used to refinance existing debt under the VLCC Nissos Keros and the suezmax pair Kimolos and Folegandros and prepay the company’s scrubber financing, at equal leverage terms.

Okeanis Eco Tankers said the loan would be repaid quarterly, mature in five years, be priced at 190 basis points above the Secured Overnight Financing Rate (SOFR), and will be secured by the same three ships.

Family vehicle boasts

The company added that the pricing is not further adjusted by the historical Credit Adjustment Spread of 26 basis points, translating to a US Libor-based credit spread equivalent of 164 basis points.

The Oslo-listed Alafouzos family vehicle boasts a fleet of six suezmaxes and eight VLCCs.

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Source: Splash


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