Greek owner Pyxis Tankers has refinanced the loan facility for 2015-built product tanker Pyxis Epsilon with EnTrustPermal’s Blue Ocean Maritime Income.
After the repayment of existing bank debt, the new five-year secured loan provides Pyxis with proceeds of $7.3m.
Valentios Valentis, chairman and CEO of Pyxis Tankers, commented: “We welcome a new lender to our company. Blue Ocean Maritime funds managed by EnTrustPermal provided us $24.0 million of new debt. This loan facility offers us great flexibility through a cash sweep mechanism for principal amortization over the entire loan period.”
Earlier this month, Blue Ocean Maritime Income announced plans for an IPO in London which seeks to raise $250m.