Connecticut-based tanker owner Chembulk Tankers has raised $200m in a secured bonds issue.
Proceeds from the offering will be used for the refinancing of existing bank debt and hinted it could also go towards the ordering of new ships.
Dave Ellis, CEO of Chembulk, commented, “This successful offering is a notable milestone as we constantly work to maintain Chembulk’s reputation for safe and efficient product deliveries to our customers and will facilitate the renewal and growth of our fleet.”
Chembulk, which is backed by KKR and York Capital, can expand the issue via a tap issuance feature to a maximum of $250m.
Currently Chembulk operates a fleet of twenty-seven fully stainless-steel petrochemical tankers and two LPG carriers.