Hafnia Acquires 2015-Built MR2 Duo, Signs USD 473 Mn Loan

Hafnia vessel acquistionImage Courtesy: Hafnia

Product tanker owner and operator Hafnia has acquired two 2015-built medium range product tankers from Gestion Maritime.

In addition to the vessel acquisition announcement, the company also revealed the signing of a new revolving credit facility as well the sale of an older product tanker.

The acquired vessels are the StenaWeco Andrea Corrado and StenaWeco Caterina Corrado, which were built by Hyundai Mipo Dockyard. Hafnia said the duo is expected to be delivered by October/November 2019.

At the same time, the company sold its 2004-built Hafnia Atlantic to an undisclosed buyer. The vessel was sold on August 30 and delivered on September 11. Hafnia said the vessel sale was part of the company’s broader fleet renewal strategy.

What is more, the company signed a USD 473 million senior secured term loan and revolving credit facility this month to refinance its existing USD 360 million facility and USD 236 million facility, maturing in 2023 and 2022 respectively.

This refinancing was raised from ten banks from Europe and Asia, with an interest margin of 1.60%, seven-year tenor and 17-year age-adjusted profile.

The security package includes 33 vessels consisting of two long range product tankers, 17 medium range product tankers and 13 handy vessels.

“This refinancing demonstrates Hafnia’s ability to tap upon highly competitive capital which will extend our maturity profile, lower our cost of debt and improve liquidity,” Perry van Echtelt, Hafnia’s Chief Financial Officer, said.

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Posted on September 27, 2019 with tags , .

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