EXMAR Announces Refinancing of Pressurised Fleet


EXMAR announced that it has received a firm commitment for the refinancing of its ten fully-owned pressurised vessels. The fleet is currently 100% chartered out and will be refinanced through several sale and leasebacks with Japanese owners for a period of up to six years.

The refinancing of its pressurized fleet will generate approximately USD 60.0 million of free cash to EXMAR. The transaction is subject to documentation and expected to close in the fourth quarter of this year with a partial drawdown in 2018 and the balance in the first quarter of 2019.

EXMAR and its new Japanese partners are pleased to enter in this new structure together. Credit Agricole Corporate & Investment Bank is acting as the sole arranger of the financing.

Sea News, October 5


Please enter your comment!
Please enter your name here