FSL Trust Finalise Extension of Loan Agreements

MarineLink.com
Thursday, August 01, 2013

FSL Trust Management Pte. Ltd. (FSLTM) refer to an earlier announcement in relation to relaxation of its loan covenants by a further sxi months.

On 30 June 2013 FSLTM returned to the lenders the final agreement for the Extension for signature by the lenders. FSLTM is pleased to announce that it has, on 30 July 2013, received confirmation from FSL Trust’s lenders of the Extension until 31 December 2013 on, inter alia, the following conditions:

(i) payment to the lenders of a fee equal to 0.05% of the loan outstanding on 27 June 2013; and
(ii) submission to the lenders of certain documents, including security documents in relation to the shares of the companies holding the vessels owned by FSL Trust.

With the grant of the Extension, the directors of FSLTM are of the opinion that during the period of the Extension FSL Trust should be able to meet the relaxed financial covenants.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Kemp Joins PMSA as Vice President

The Pacific Merchant Shipping Association (PMSA) announced the hire of Carl Kemp as a Vice President based in the organization’s Long Beach office.    Kemp brings

FSL Trust Divests Two Containerships

FSL Trust Management Pte. Ltd., as the trustee-manager of First Ship Lease Trus, announced that the Trust has completed the disposal of Ever Radiant and Ever Respect

Sill Reinforcements Complete in New Panama Canal Locks

The Panama Canal Authority (ACP) announced that sill reinforcements in the new locks have been completed this week, bringing the Panama Canal Expansion closer to inauguration.

Finance

FSL Trust Divests Two Containerships

FSL Trust Management Pte. Ltd., as the trustee-manager of First Ship Lease Trus, announced that the Trust has completed the disposal of Ever Radiant and Ever Respect

COSCO Also Eyes Greek Train Network

China's COSCO already the sole bidder for Greece's Piraeus Port. Buying both would give COSCO a European transhipment hub. China's COSCO is expected to make

Asia-Europe Box Rates Down 8 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 8.1 percent to $431 per 20-foot container (TEU) in the week ended on Friday,

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1070 sec (9 req/sec)