Klaveness Combination Carriers to List in Oslo
Norway's Klaveness Combination Carriers (KCC) has raised 350 million Norwegian crowns in a private share placement, valuing the shipping firm at 2.27 billion crowns ($259.57 million) ahead of an Oslo stock market listing on May 22.Following the successful private placement, KCC has declared two options for the construction of the seventh and eight CLEANBU combination carrier with Jiangsu New Yangzi Shipbuilding Co., Ltd in China.The two newbuilds are scheduled for delivery in January and February 2021. Following the declaration, the KCC fleet will grow to 17 vessels within 1st quarter of 2021.
Scorpio Bulkers Gets New Build Financing form Nordic Banks
Scorpio Bulkers announced that it has received a commitment from Nordea AB (publ), acting through its New York branch, and Skandinaviska Enskilda Banken AB (publ) for a loan facility of up to $184.0 million.The loan facility will be used to finance up to 60% of the fair market value of six Ultramax dry bulk vessels (SBI Athena, SBI Thalia, SBI Zeus, SBI Hera, SBI Poseidon and SBI Apollo) and six Kamsarmax dry bulk vessels (SBI Conga, SBI Bolero, SBI Sousta, SBI Rock, SBI Reggae and SBI Mazurka).The loan facility…
Capital Product Partners Sings Pact for $460 Mln Refinancing
Capital Product Partners entered into a firm offer letter for a senior secured term loan facility of up to $460.0 million with HSH Nordbank AG and ING Bank as mandated lead arrangers and bookrunners and BNP Paribas and National Bank of Greece S.A. as arrangers. The lenders also include Alpha Bank S.A., Piraeus Bank S.A. and Skandinaviska Enskilda Banken AB (Publ). The closing of the credit facility is subject to finalization of the long form loan documentation. "We intend to use the net proceeds of the loans under the New Facility…
Scorpio Tankers Receives Commitment for Loan Facility
Scorpio Tankers Inc. announced that it has received a commitment for a loan facility up to $300 million from ABN AMRO Bank N.V., Nordea Bank Finland plc, acting through its New York branch, and Skandinaviska Enskilda Banken AB. The loan facility will be used to refinance the existing indebtedness on 16 MR product tankers, has a final maturity of five years from the first drawdown date and bears interest at LIBOR plus a margin of 2.5 percent per annum. The loan facility will be comprised of a term loan up to $200 million and a revolver up to $100 million…
Ithaca Energy Completes RBL Redetermination
Ithaca Energy Inc. announced having successfully completed its planned semi-annual reserves based lending (“RBL”) facilities review and continues to maintain in excess of $100 million of funding headroom ahead of planned first hydrocarbons from the Greater Stella Area in the third quarter of 2016. The Company commenced deleveraging the business in 2015 with net debt reducing from a peak of over $800 million in the first half of 2015 to $630 million at 31 March 2016. Following…
Euronav Acquires $ 750 mi Facility
The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB Bank ASA and Nordea Bank Norge ASA acting as Coordinators, Mandated Lead Arrangers and Bookrunners and ABN AMRO Bank NV, ING Bank NV and Skandinaviska Enskilda Banken AB (publ) (SEB) acting as Mandated Lead Arrangers and Bookrunners and Crédit Agricole Corporate and Investment Bank acting as Lead Arranger whilst KBC Bank NV, Scotiabank Europe plc and Société Générale acting as Co-Arrangers.
Euronav NV IPO in the US
Euronav NV announced today the upsizing and pricing of its initial public offering in the United States. The size of the offering has been increased from the initially announced 13,550,000 ordinary shares to 16,260,000 ordinary shares at an issue price per share of USD 12.25 for gross base proceeds of USD 199,185,000. The Company has granted the underwriters a 30-day option to purchase up to an additional 2,439,000 ordinary shares. The Company’s ordinary shares offered in the…
Euronav $300 Million Facility Extension
The executive committee of Euronav NV announced that it has signed a four-year extension on its $300 million senior secured credit facility originally signed in April 2009, which at the time of the extension had an outstanding of $221 million. The facility will continue to finance six vessels: the VLCCs Olympia (2008 – 315,981) and Antarctica (2009 – 315,981 dwt) and four Suezmaxes: the Cap Felix (2008 – 158,764 dwt), the Cap Theodora (2008 – 158,800 dwt), the Felicity (2009 - 159,000 dwt) and the Fraternity (2009 -159,000 dwt).
CMB: New $300m Revolving Credit Facility
CMB signed a $300msenior secured reducing revolving credit facility with DNB Bank ASA and Nordea Bank Norge ASA as lead arrangers and bookrunners, Belfius Bank nv/sa, Fortis Bank sa/nv, KFW IPEX-Bank GmbH and Skandinaviska Enskilda Banken AB (publ) as lead arrangers and ABN Amro Bank N.V., KBC Bank NV and Scotiabank Europe plc as co-arrangers. Nordea Bank Norge ASA will also act as agent for the facility. The facility has a term of 6 years and 1 month and bears interest at a rate of LIBOR+3,00%. On the undrawn portion of the facility a commitment fee of 1,00% will be paid.
Scorpio Tankers Sell One Accept New One
Scorpio Tankers Inc. announce sale of the 'STI Diamond', accept delivery of newbuild 'STI Topaz'. The Company completed the sale of the 'STI Diamond' and sale of a second vessel, the STI Coral, is expected to be completed in September 2012. Scorpio took delivery of the STI Topaz, the second of ten vessels scheduled for delivery under its newbuilding program. Upon delivery, the vessel began a time charter for up to 120 days at $16,200 per day plus an adjustment based on the fuel consumption.
Scorpio Tankers Announces Financing for Four Ships
Scorpio Tankers Inc. signed a committed term sheet for a $92m credit facility with Credit Agricole Corporate and Investment Bank and Skandinaviska Enskilda Banken AB to partially finance four of the five newbuilding 52,000 DWT product tankers (MRs) that the Company has contracted to be built at the Hyundai Mipo Dockyard in South Korea. The Company also announced amendments to the financial covenants in its existing credit facilities. Emanuele Lauro, CEO of Scorpio Tankers, commented, "We are pleased to have two additional strong international commercial banks as part of our banking group.