Belships ASA: Amendment of Term Loan Facility

Source: www.gulfoilandgas.com 5/3/2024, Location: Europe

Belships has agreed to amend a USD 90m Term Loan Facility for six vessels, which is the only senior secured bank loan in the company today. Four vessels will remain debt free.

The Loan Facility has an interest rate of SOFR+195 bps which is 55 bps lower than the previous facility. The loan matures in May 2029 and the first instalment is due in 2025. Furthermore, a new undrawn Accordion Tranche of USD 100m will be available.

Lenders for the Loan Facility are DNB Bank, Nordea and Sparebank 1 SR-Bank.

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