Sweden: Concordia Maritime signed refinancing agreements for P-MAX tankers

23.11.2016

Sweden: Concordia Maritime signed refinancing agreements for P-MAX tankers
Nordisk Industri, 23 Nov 2016, online:-
The current financing for ten P-MAX tankers, owned by Sweden-based tanker shipping company Concordia Maritime, will expire in June 2017. Concordia Maritime has now signed two separate agreements for the refinancing of tankers. The refinancing is worth of USD 189mn (EUR 179.11mn) which is in line with the current loan amount. The first agreement is made with a group of banks consisting of Svenska Handelsbanken, BNP Paribas, DNB, Nordea, SEB och Swedbank. This agreement is for five years and refinances eight P-MAX tankers with 67.5% of their market value. The second agreement is signed with Svenska Skeppshypotek for refinancing of two remaining P-MAX tankers. The agreement is for five years and finances 70% of the market value of tankers.
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