TOP Ships Secures Loan for One MR2 Vessel

top-shipsIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license.

Greek tanker owner and operator TOP Ships has concluded a financing agreement with an undisclosed Chinese financier to refinance one of its MR2 tankers.

As informed, the gross proceeds from the new financing amount to USD 25.6 million and will be used mainly to refinance the facility of the 49,700 dwt Stenaweco Excellence with Nord LB.

The tenor of the new facility is ten years.

The company also revealed that it intends to enter into two additional financing agreements with the same financier at similar terms in order to exercise its purchase options for the Stenaweco Energy and Stenaweco Evolution.

These acquisitions are expected to be concluded during the fourth quarter of 2019.

“We are very pleased to have concluded this financing with a very high quality financier and look forward to concluding the two additional financings. These new financings will lead to a lower cost of debt for the 3 vessels overall,” Evangelos Pistiolis, the President, Chief Executive Officer and Director of the Company, commented.

TOP Ships has a fleet of a total of fourteen tankers including Suezmaxes, MR2 and MR1 ships.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 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

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >