Hafnia Tankers in Sale and Leaseback Deal

 

The Vessel has been sold to a large Japanese private ship owning company with an 8-year bareboat charter back with annual purchase options from year four onwards. The Company has an option to extend the lease to 12 years.

 

The Transaction entailed a sale of the Vessel at market value and a fully levered lease arrangement which gives rise to a positive liquidity effect of approx. $8.5 million and further adds to the already strong cash position. 

 

The profile of the lease arrangement allows the Company to abide by its strict policy of maintaining a low cash-breakeven. The Transaction has been consummated and the Vessel has been delivered to the Lessor.

 

Fearnley Securities AS acted as sole financial advisor to the Company for the Transaction.