Euronav $300 Million Facility Extension

MaritimeProfessional.com
Monday, June 24, 2013

The executive committee of Euronav NV announced that it has signed a four-year extension on its $300 million senior secured credit facility originally signed in April 2009, which at the time of the extension had an outstanding of $221 million.

The facility will continue to finance six vessels: the VLCCs Olympia (2008 – 315,981) and Antarctica (2009 – 315,981 dwt) and four Suezmaxes: the Cap Felix (2008 – 158,764 dwt), the Cap Theodora (2008 – 158,800 dwt), the Felicity (2009 - 159,000 dwt) and the Fraternity (2009 -159,000 dwt).

Some of the banks which were participating in the facility before the extension were replaced by existing or new lenders. The lending banks involved in the extension consist of Nordea Bank Norge ASA (Nordea), Crédit Agricole Corporate and Investment Bank (Crédit Agricole), Skandinaviska Enskilda Banken AB (publ), DNB Bank ASA and Scotiabank (Hong Kong) Limited acting as Lead Arrangers; Nordea and Crédit Agricole acting as bookrunners and Nordea as sole facility agent. ING Bank N.V., BNP Paribas SA, BNP Paribas Fortis SA/NV, Belfius Bank NV/SA, KBC Bank NV and Optima Bank acting as co-arrangers.

The facility, which has been extended until April 2018, will continue to have the same  repayment profile of $20 million per year.

www.euronav.com
 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Nigerian Piracy Threatens UK Interests: New Report

The UK economy is heavily exposed to lawlessness off the coast of Nigeria, a new report published today by the UK Chamber of Shipping says. The report found that almost all of the UK’s annual £6.

SIA to Honor Honeywell's Gordon Hope

The Security Industry Association (SIA) says it has chosen Gordon Hope, general manager of Honeywell's AlarmNet communications network, as the 2014 recipient of the George R.

Scorpio Tankers: Latest Financial & Ship Delivery News

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report.

Finance

Scorpio Tankers: Latest Financial & Ship Delivery News

Scorpio Tankers Inc. says it has updated its stock buyback program; lists its latest new vessel deliveries, and gives the release date of its second quarter 2014 earnings report.

Box Ships Inc. Repays Commerzbank Loan

Greece-based Box Ships Inc. says it has repayed in full the outstanding amount under its loan agreement with Commerzbank AG dated July 29, 2011.  The outstanding amount of the loan,

Aker Philadelphia Shipyard ASA : Purchase of own shares

Aker Philadelphia Shipyard ASA (the "Company") (Oslo: AKPS) has on 21 July 2014 purchased 2,155 shares in the Company on Oslo Axess at an average price of NOK 160.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.3640 sec (3 req/sec)