Antwerp-based Euronav NV has signed a four-year extension of its $300 million senior secured credit facility originally signed in April 2009 and which, at the time of the extension, had an outstanding of $221 million.
The facility will continue to finance six vessels: the very large crude carriers Olympia
, and four Suezmaxes, Cap Felix
, Cap Theodora
Some of the banks which were participating in the facility before the extension were replaced by new lenders, Euronav said.
The facility, which has been extended until April 2018, will continue to have the same repayment profile of $20 million per year.
“Euronav’s success at securing this extension emphasizes the confidence placed in the company in these difficult markets,” the company said in a statement.