Okeanis Eco Tankers Corp. (OAX: OET) (the “Company”) announces that it has secured commitment to a USD 45.9 million secured loan facility (the “Facility”) from Alpha Bank A.E. at highly attractive terms to finance 88.95% of the total pre-delivery yard instalments for its two ECO design, scrubber-fitted 158,000 DWT Suezmax tankers under construction at Hyundai Samho Heavy Industries delivering in August 2020.
The Facility is available immediately, and the Company expects to draw on it shortly to finance 100% of the instalment due in November 2019. The Facility is repayable in full upon delivery of the newbuildings. The Company is in advanced discussions with potential lenders in respect of post-delivery financing for its two Suezmax newbuildings and expects to conclude financing arrangements for these at industry leading terms within Q1 2020.
John Papaioannou, CFO
+30 210 480 4099
This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Forward Looking Statements:
Matters discussed in this release may contain certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates, sometimes identified by the words “believes”, “expects”, “intends”, “plans”, “estimates” and similar expressions. The forward-looking statements contained in this release, including assumptions, opinions and views of the Company or cited from third-party sources, are solely opinions and forecasts that are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. The Company does not provide any assurance that that the assumptions underlying such forward-looking statements are free from errors, nor does the Company accept any responsibility for the future accuracy of the opinions expressed in the presentation or the actual occurrence of the forecasted developments. No obligations are assumed to update any forward-looking statements or to conform to these forward-looking statements to actual results.
The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice.
ABOUT OKEANIS ECO TANKERS CORP.
Okeanis Eco Tankers is a pure play eco and scrubber-fitted tanker company that owns and operates a fleet of 17 modern, high-specification crude oil and products tankers in the VLCC, Suezmax and Aframax segments.