Sweden’s Concordia Maritime says it has signed two agreements to refinance its fleet of ten P-Max MR tankers.
The two agreements, totalling $189m, will replace an existing facility which is due to expire in June 2017.
The first finance facility is for eight ships, with a group of banks made up of Svenska Handelsbanken, BNP Paribas, DNB, Nordea, SEB and Swedbank. The facility has a final maturity of five years. The other facility is with Svenska Skeppshypotek and will refinance two of the ships , also with a maturity of five years.
“We are happy to have finalized the refinancing of the P-Max ships at very competitive terms with relationship banks. This refinancing for the P-MAX ships in combination with the sale lease back deals for Stena Image and Stena Supreme give the company a solid financial platform to develop its business from,” commented Ola Helgesson, CFO of Concordia Maritime.
