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TOP Ships Gets Loan for a Tanker
Top Ships, a provider of oil, petroleum products and chemicals
transportation services, has concluded a financing agreement with
an undisclosed Chinese financier to refinance one of its MR2
tankers.
The Greek tanker owner and operator said in a press release that
the gross proceeds from the new financing amount to $25.6m and
will be used mainly to refinance the facility of M/T Stena Weco
Excellence with Nord LB.
The tenor of the new facility is 10 years, it added.
The company also announced that it intends to enter into 2
additional Financing Agreements with the same financier at
similar terms, in order to exercise its purchase options for the
M/Ts Stena Weco Energy and Stena Weco Evolution. These
acquisitions are expected to be concluded during the fourth
quarter of 2019.
Evangelos Pistiolis, the President, Chief Executive Officer and
Director of the Company, said: "We are very pleased to have
concluded this financing with a very high quality financier and
look forward to concluding the two additional financing. These
new financing will lead to a lower cost of debt for the 3 vessels
overall."
Jul 17, 2019
