Okeanis Eco Tankers announced that it has entered into two new facility agreements, for the financing of the recently acquired newbuilding Suezmax vessels, each under construction at Daehan Shipbuilding Co., Ltd, to be named Nissos Piperi and Nissos Serifopoula respectively, with expected deliveries in January 2026.
On December 19, 2025, we entered into a $45.0 million facility agreement, to finance a portion of the acquisition price of the Nissos Piperi, with a prominent Greek bank. The Nissos Piperi Facility contains an interest rate of Term SOFR plus 130 basis points, matures in seven years, and will be repaid in quarterly installments of $0.525 million, together with a balloon installment of $30.3 million at maturity. It will be secured by, among other things, a mortgage over the Nissos Piperi, and it will be guaranteed by the Company.
On December 19, 2025, we entered into a $45.0 million facility agreement, to finance a portion of the acquisition price of the Nissos Serifopoula, with another prominent Greek bank (the “Nissos Serifopoula Facility”). The Nissos Serifopoula Facility contains an interest rate of Term SOFR plus 130 basis points, matures in eight years, and will be repaid in quarterly installments of $0.525 million, together with a balloon installment of $28.2 million at maturity. It will be secured by, among other things, a mortgage over the Nissos Serifopoula, and it will be guaranteed by the Company.
Both facility agreements contain standard representations, warranties and covenants, including financial covenants, and are subject to standard conditions precedent, such as the delivery of the relevant vessel.
Both transactions are expected to close in January 2026.
Iraklis Sbarounis, CFO of the Company, commented:
“We are pleased to announce the final pieces of the puzzle related to the acquisition of the two resale newbuilding Suezmaxes, funded by our successful equity raise in November and now two very competitive bank facilities. We have structured these transactions to be accretive for the benefit of our shareholders, without the need to tap into our cash balance, ensuring a continued focus on our capacity for dividend distributions.
The financings further demonstrate our ability to enhance our capital structure, supported by the strong Alafouzos family relationships in the Greek banking market – relationships that we are keen to develop further. The Nissos Piperi Facility and the Nissos Serifopoula Facility, feature the most competitive financing terms within our fleet, each priced at 130 basis points over SOFR, with maturities in 2033 and 2034 respectively, and we expect such financings to contribute to improved daily debt service breakeven costs.
We are excited to put these vessels to work as soon as they are delivered to us in the first half of January, and benefit from their expected cashflow generation.”