D’Amico International Shipping has just announced that its Ireland-based operating subsidiary d’Amico Tankers Limited has secured a new $250m term loan facility at attractive terms with a pool of nine primary financial institutions.
The purpose of this new facility is to refinance seven existing vessels (all built between 2004 and 2006) extending their current debt maturity from 2017 to 2021 and to provide financing for 6 newbuild vessels.
“The facility has a very competitive interest rate and a final maturity of five years from the drawdown date for the existing vessels and from the delivery date for the newbuilding vessels” d’Amico said in a statement.
With the new facility, d’Amico Tankers has secured 100% of its long-term debt requirements for the $755m investment plan started in 2012 plus all other debt refinancing needs.
“This deal, which was oversubscribed, clearly reflects d’Amico’s strong banking relationships and solid financial profile,” commented Marco Fiori, CEO of d’Amico International Shipping.
