Refinancing of senior loan facility
(Thomson Reuters ONE) -
Deep Sea Supply Plc ("The Company") is pleased to announce that we have signed a
USD 260 mill loan agreement for the purpose of refinancing the Company's current
senior loan facility. The new loan agreement was oversubscribed and is done at
competitive terms with a syndicate consisting of 5 major international shipping
banks. The margin for the new facility is 2,50% with a term of 5 years. The new
facility includes 15 of the Company's 22 vessels (including 1 newbuilding).
The main purpose of the refinancing is to facilitate further growth of the
Company, by way of improved flexibility and changed set of financial covenants.
Furthermore, the Company has earlier this year secured local financing in Brazil
for the newbuilding Platform Supply Vessel (PSV) that will be delivered in
1Q 2012. Agent for this facility is BNDES (The Brazilian Development Bank). The
terms of the agreement are very competitive with approx 80% leverage, a fixed
total interest rate of approx 3,9% and 18 years profile and maturity.
Following the above mentioned loan agreements, the newbuilding program of Deep
Sea Supply is fully financed.
Limassol, 3 November 2011
Deep Sea Supply Plc
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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: Deep Sea Supply via Thomson Reuters ONE
[HUG#1560719]
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2011 - 14:59 Uhr
Sprache: Deutsch
News-ID 83762
Anzahl Zeichen: 2019
contact information:
Town:
Arendal
Kategorie:
Business News
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"Refinancing of senior loan facility"
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