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 August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

Traders Scramble for Caribbean Crude Storage

Demand for crude storage in the Caribbean, one of the world's most important oil hubs, is rising as producers and traders try to ride out the worst price crash

Liam Means Business for Shipping Cluster

Enterprising student Liam Finch has been putting his summer days to good use by working on an important survey for the Isle of Man Shipping Association (IOMSA).

Finance

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

Obama Pushes for U.S. Icebreakers

President Barack Obama on Tuesday will propose a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more maritime traffic,

Traders Scramble for Caribbean Crude Storage

Demand for crude storage in the Caribbean, one of the world's most important oil hubs, is rising as producers and traders try to ride out the worst price crash

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.7310 sec (1 req/sec)