FSL in Talks to Extend USD 479 Mn Loan

Image Courtesy: FSL

Singapore-based FSL Trust Management has launched negotiations with lenders to extend the maturity of its USD 479.5 million loan by one year.

A total of USD 165.6 million remains to be repaid under the facility, which dates back to December 2011.

“A majority of the lenders under the syndicated loan facility have indicated their support for the extension to the trustee-manager,” FSL said.

However, as the extension needs to be supported by all lenders under the facility, FSL has applied to the High Court of Singapore to propose a scheme of arrangement.

“The trust remains in a substantial net equity position and the business and operations of the trust will continue in the normal course,” the trust said.

The trust registered positive cash generation for the nine months ended September 30, 2017.

FSL Trust has a portfolio of 22 oceangoing vessels, of which 12 vessels are leased to international shipping companies on long-term bareboat charters. The remaining 10 vessels are employed on short-term time charters or in pools.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >