Greece’s Oceanis Eco Tankers has secured a new $113 million senior secured line of credit from Dutch financier ABN AMRO to refinance its existing debt on improved terms.
Proceeds will be used to refinance existing debt under VLCC. Nisos Keros and suezmax pair Kimoros and Folegandros And prepay the company’s scrubber finance on equal leverage terms.
The loans will be repaid quarterly, will have a maturity of five years, will be priced 190 basis points above the Secured Overnight Financing Rate (SOFR) and will be secured by the same three vessels, according to Oceanis Ecotankers. The firm added that the pricing was not further adjusted by historical credit-adjusted spreads of 26 basis points, equivalent to 164 basis points when converted to US LIBOR-based credit spreads.
The Oslo-listed Alafozos family fleet has six Suezmaxes and eight VLCCs.
