Okeanis Eco Tankers Corp. announced the closing of a new $113 million senior secured credit facility (the “Facility”) provided by ABN AMRO BANK N.V., to refinance existing indebtedness at significantly improved terms, in line with the Company’s strategy towards capital structure optimization. The proceeds will be used to refinance existing indebtedness under the VLCC vessel Nissos Keros and the Suezmax vessels Kimolos and Folegandros, and prepay the Company’s scrubber financing, at equal leverage terms.

The Facility is repaid quarterly, matures in 5 years, is priced at 190 basis points above the Secured Overnight Financing Rate (“SOFR”), and will be secured by the Nissos Keros, the Kimolos and the Folegandros. The pricing is not further adjusted by the historical Credit Adjustment Spread (“CAS”) of 26 basis points, translating to a US Libor-based credit spread equivalent of 164 basis points.
Source: Okeanis Eco Tankers Corp.