Pyxis Tankers refinances product tanker with loan from Blue Ocean Maritime

Pyxis Tankers refinances product tanker with loan from Blue Ocean Maritime

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.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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