Greek tanker company loaned facilities for financing two VLCC newbuildings

Greek tanker company Okeanis Eco Tankers Corp. has secured firm commitments for two secured loan facilities in respect of the financing of two of its VLCC newbuildings.

The commitments have been received from Credit Suisse AG and BNP Paribas for an aggregate amount of USD 116.3 million.

The vessels, hull 3051 and hull 3089, are currently under construction at Hyundai Heavy Industries shipyard in South Korea.

As explained, these commitments mark the successful conclusion of the first step in the company’s efforts to secure competitive financing for its last four VLCC newbuildings, in line with the company’s previous guidance.

Okeanis Eco Tankers is in advanced discussions with potential lenders in respect of its two remaining unfinanced VLCC newbuildings and expects to conclude financing arrangements for these on substantially similar terms, according to the company.

What is more, the company has initiated the process of up-listing the company’s shares from Merkur Markets to Oslo Axess, a regulated market operated by Oslo Børs ASA. It plans to contact a group of potential investors to discuss a potential equity raise of up to USD 55 million.

Final details of a potential transaction have not yet been determined and there is no assurance that the company will proceed with the indicated process.

Okeanis Eco Tankers owns and operates a fleet of 15 crude oil and products tankers in the VLCC, Suezmax and Aframax segments.

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