Team Tankers gets extra $50m in finance

Team Tankers gets extra $50m in finance

ABN AMRO has joined Team Tankers’ existing loan facility as a lender alongside SEB and NIBC Bank, increasing the facility from $100m to $150m.

The loan facility now consists of a $100m term loan and a revolving credit facility of $50m, which have increased from $67.7m and $33.3m respectively since ABN AMRO joined the financing consortium.

The terms of the loan facility’s agreement will remain unchanged, the Oslo-listed company said.

“We are delighted to establish a relationship with ABN AMRO, a strong global bank with broad capabilities and an historical commitment to the shipping industry,” said Andreas Reklev, CFO of Team Tankers, in a statement today.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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