DHT Secures Post-Delivery Finance for VLCCs
Tanker company DHT Holdings, Inc. has entered into a $308.4 million senior secured credit facility for the post-delivery financing of the company’s four newbuildings.
The vessels are currently under construction at Hyundai Samho Heavy Industries and Hanwha Ocean, in South Korea and are scheduled for delivery during the first half of 2026.
The facility is co-arranged by ING Bank and Nordea Bank Abp, with ING Bank as Coordinator, Facility Agent, Security Agent and ECA Agent. The facility bears interest at a rate equal to SOFR plus a weighted average margin of 1.32%. The maturity date of the facility in relation to each vessel is 12 years from the delivery date with a 20-year repayment profile.
President and CEO, Svein Moxnes Harfjeld, stated: “We are pleased to have secured this credit facility, which underscores the confidence our banking partners and K-Sure have in DHT and our long-term strategy. This agreement represents a competitive margin in combination with an extended tenor and aligns with our robust financial foundation while advancing our fleet renewal and expansion. We look forward to the delivery of these large size, state-of-the art VLCCs, which will enhance the service offering to our customers.”