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 Today


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

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

People & Company News

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

Prince Charles Places Final Section of UK Aircraft Carrier

The second of the largest warships ever built for the U.K. Royal Navy, the Queen Elizabeth Class carrier HMS Prince of Wales, was given the royal seal of approval when HRH The Prince of Wales,

New Zealand: Maritime Trade is Key

Globally, shipping is on the rise – already 80-90 percent of the world’s trade is by ship; that is more than 12 billion metric tons of goods annually, shipped by 1.

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

 
 
Maritime Contracts Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.1427 sec (7 req/sec)