FSL Trust Refinances Existing Syndicated Loan

MoneyIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

FSL Trust Management, the trustee-manager of Singapore-based First Ship Lease Trust, has completed the refinancing of all outstanding amounts under an existing syndicated loan.

Namely, the company said that the refinancing was finalized using funds from new loan facilities as well as internal resources.

Additionally, in its filing to the Singapore Exchange, FSL Trust informed that it has applied for, and been granted leave, by the High Court to withdraw its application to convene a court meeting to approve a scheme of arrangement.

As such, there will be no court meeting held and no scheme of arrangement made between the company and its lenders. The moratoria obtained by the company and its vessel owning subsidiaries have also been discharged.

In early July, FSL Trust secured a total of USD 108 million via three separate loan facilities. Specifically, a USD 50 million facility agreement was signed with Hellenic Bank Public Company, USD 40 million loan was inked with Chailease International Financial Services and USD 18 million facility agreement with Amsterdam Trade Bank N.V.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2018 >>
MTWTFSS
29 30 31 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 1 2

GREENTECH IN SHIPPING GLOBAL FORUM

The mindset of sustainability and efficiency is the key to unlocking successful business…

read more >

Maritime Information Warfare

SMi are thrilled to announce the return of Maritime Information Warfare conference, now in its second year…

read more >

Offshore Wind Europe 2018

The Offshore Wind Europe speaker line-up is supported by executives who are leading the charge…

read more >

The Nineteenth CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry…

read more >