DUPLICATE: Nordic American Tankers Limited (NYSE:NAT) - Refinanced Credit Facility up to the Autumn of 2017
(Thomson Reuters ONE) -
Press release (PDF)
Hamilton, Bermuda, October 22, 2012.
Nordic American Tankers ("NAT"), today announced that it has agreed with banks
to establish a credit facility that will extend until the Autumn of 2017. As
stated in the investor telephone conference, September 25 2012, we have been
assessing various alternatives and amounts for the total financial requirements.
The new non amortizing facility will total $430 million. The final documentation
is expected to be completed shortly. The banking group consists of the leading
Scandinavian banks DNB, Nordea and Skandinaviska Enskilda Banken. Today we have
drawn $250 million of the current credit facility and have about $80 million in
cash. Going forward the facility may be supplemented by other loan arrangements
if events and opportunities warrant it. Commented the Chairman and CEO of NAT,
Herbjørn Hansson: "I am pleased that this agreement has been entered into.
This tells us that NAT is a preferred borrower. It gives NAT a continued solid
financial footing and flexibility which will enable the company to grow, based
upon both possible vessel acquisitions and newbuildings".
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Matters discussed in this press release may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides safe
harbor protections for forward-looking statements in order to encourage
companies to provide prospective information about their business. Forward-
looking statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying assumptions and other
statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including this
cautionary statement in connection with this safe harbor legislation. The words
"believe," "anticipate," "intend," "estimate," "forecast," "project," "plan,"
"potential," "will," "may," "should," "expect," "pending" and similar
expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, our management's examination of historical
operating trends, data contained in our records and other data available from
third parties. Although we believe that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond our control, we cannot assure you that we will achieve or accomplish
these expectations, beliefs or projections. We undertake no obligation to
update any forward-looking statement, whether as a result of new information,
future events or otherwise.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of world economies and currencies, general market conditions, including
fluctuations in charter rates and vessel values, changes in demand in the tanker
market, as a result of changes in OPEC's petroleum production levels and world
wide oil consumption and storage, changes in our operating expenses, including
bunker prices, drydocking and insurance costs, the market for our vessels,
availability of financing and refinancing, changes in governmental rules and
regulations or actions taken by regulatory authorities, potential liability from
pending or future litigation, general domestic and international political
conditions, potential disruption of shipping routes due to accidents or
political events, vessels breakdowns and instances of off-hires and other
important factors described from time to time in the reports filed by the
Company with the Securities and Exchange Commission, including the prospectus
and related prospectus supplement, our Annual Report on Form 20-F, and our
reports on Form 6-K.
Contacts:
Scandic American Shipping Ltd
Manager for:
Nordic American Tankers Limited
P.O Box 56, 3201 Sandefjord, Norway
Tel: + 47 33 42 73 00 E-mail: nat(at)scandicamerican.com
Rolf Amundsen, Head of Investor Relations, Norway
Nordic American Tankers Limited
Tel: +1 800 601 9079 or + 47 908 26 906
Jacob Ellefsen, Head of Research, Monaco
Nordic American Tankers Limited
Tel: + 377 93 25 89 07 or + 33 678 631 959
Turid M. Sørensen, EVP & CFO, Norway
Nordic American Tankers Limited
Tel: +47 33 42 73 00 or +47 90 57 29 27
Gary J. Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nordic American Tankers Limited via Thomson Reuters ONE
[HUG#1651428]
Unternehmensinformation / Kurzprofil:
Datum: 23.10.2012 - 11:37 Uhr
Sprache: Deutsch
News-ID 195055
Anzahl Zeichen: 5872
contact information:
Town:
Hamilton HM11
Kategorie:
Business News
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"DUPLICATE: Nordic American Tankers Limited (NYSE:NAT) - Refinanced Credit Facility up to the Autumn of 2017"
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