Vista Shipping to Finance New Tankers with USD 111 Mn Loan

FinanceIllustration; Source: Pixabay under CC0 Creative Commons license

Vista Shipping, a joint venture between Hafnia and CSSC (Hong Kong) Shipping, has secured a USD 111 million loan to finance four newbuildings.

The term loan facility, that would finance four new LR1 tankers being built at Guangzhou Shipyard International, was agreed with a banking consortium consisting of KfW IPEX-Bank, Societe Generale Hong Kong Branch and OCBC Singapore.

The parties would each participate with 33% as lenders at the term loan facility and have reached financial close.

The 12-year post-delivery financing profits from Sinosure cover and is secured by first-ranking ship mortgages over the vessels as well as joint and several guarantees from Hafnia and CSSC (Hong Kong) Shipping.

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