TOP Ships Clinches Loan for One MR2 Vessel

TOP_Ships

TOP Ships has reportedly concluded a financing agreement with an undisclosed Chinese financier to refinance one of its MR2 tankers.

The gross proceeds from the new financing amount to USD 25.6 million and will be used mainly to refinance the facility of the 49,700 dwt Stenaweco Excellence with Nord LB. The tenor of the new facility is ten years.

TOP Ships also revealed that it intends to enter into two additional financing agreements with the same financier at similar terms in order to exercise its purchase options for the Stenaweco Energy and Stenaweco Evolution. These acquisitions are expected to be concluded during the fourth quarter of 2019.

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