Marine Link
Monday, September 26, 2016

Aker American Shipping SecuresFinancing for Tankers

February 13, 2007

Senior secured credit facility of $770m with Fortis (FTS.TO) closed at delivery of first tanker Aker American Shipping has, concurrently with the delivery of the first Product Tanker, closed a senior secured credit facility of $770m with Fortis as Agent, financing its long term ownership of the first 10 vessels. The facility secures permanent financing for the first 10 product tankers and provides for an advance of $80m per vessel. The facility refinances the $350m facility currently in place for the first five product tankers that provided for an advance of $70m per vessel. AKASA has also entered into interest rate swaps, which secure the interest rate of the new credit facility.


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News