Navig8 Product Tankers to raise $30m via rights issue

Navig8 Product Tankers to raise $30m via rights issue

Navig8 Product Tankers has announced that it has launched an offer of 3m units, with a subscription price per unit of $10, to raise $30m gross proceeds.

Existing shareholders of the company are invited to participate in the offering and the company intends to use the net proceeds for general corporate purposes, including working capital and transaction costs.

In July, Navig8 agreed a $66m senior secured credit facility with ABN AMRO Bank for post-delivery financing for two of its LR1 product tanker newbuildings.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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