DHT Holdings, Inc. announces financing for four VLCC newbuildings
May 21 2014 - 9:06AM
DHT Holdings, Inc. (NYSE:DHT) ("DHT" or the "Company") today
announced that it has entered into firm commitments for the debt
financing of four of its newbuildings ordered at Hyundai Heavy
Industries. The financing equals about 50% of the contract prices
with an average margin above Libor of 2.5%. Assuming a Libor of
0.25% the average total debt service (interest and installments)
per vessel per day is estimated to about $11,100 in the first year
after drawdown. The financing commitments are subject to final
documentation.
Senior Management of DHT says: "DHT is experiencing
strong interest and support from the ship lending community. The
banks appreciate our focus on moderate leverage and cash break-even
levels and have responded with competitive pricing and terms.
Through these facilities, we are very pleased to have expanded our
banking universe by adding ABN Amro, Nordea and Danish Ship Finance
to our group of relationship banks."
About DHT Holdings, Inc.
DHT is an independent crude oil tanker company.
Our fleet trades internationally and consists of crude oil tankers
in the VLCC, Suezmax and Aframax segments. We operate through our
wholly owned management companies in Oslo, Norway and Singapore.
You shall recognize us by our business approach with an experienced
organization with focus on first rate operations and customer
service, quality ships built at quality shipyards, prudent capital
structure with robust cash break even levels to accommodate staying
power through the business cycles, a combination of market exposure
and fixed income contracts for our fleet and a transparent
corporate structure maintaining a high level of integrity and good
governance. For further information: www.dhtankers.com.
Forward Looking Statements
This press release contains assumptions, expectations,
projections, intentions and beliefs about future events, in
particular regarding daily charter rates, vessel utilization, the
future number of newbuilding deliveries, oil prices and seasonal
fluctuations in vessel supply and demand. When used in this
document, words such as "believe," "intend," "anticipate,"
"estimate," "project," "forecast," "plan," "potential," "will,"
"may," "should" and "expect" and similar expressions are intended
to identify forward-looking statements but are not the exclusive
means of identifying such statements. These statements
reflect the Company's current views with respect to future events
and are based on assumptions and subject to risks and
uncertainties. Given these uncertainties, you should not
place undue reliance on these forward-looking statements.
These forward-looking statements represent the Company's estimates
and assumptions only as of the date of this press release and are
not intended to give any assurance as to future results. For
a detailed discussion of the risk factors that might cause future
results to differ, please refer to the Company's Annual Report on
Form 20-F, filed with the Securities and Exchange Commission on
April 29, 2013.
The Company undertakes no obligation to publicly
update or revise any forward-looking statements contained in this
press release, whether as a result of new information, future
events or otherwise, except as required by law. In light of
these risks, uncertainties and assumptions, the forward-looking
events discussed in this press release might not occur, and the
Company's actual results could differ materially from those
anticipated in these forward-looking statements.
CONTACT: Eirik Ubøe, CFO Phone: +1 441 299
4912 and +47 412 92 712 E-mail: eu@dhtankers.com
HUG#1787668
DHT (NYSE:DHT)
Historical Stock Chart
From Mar 2024 to Apr 2024
DHT (NYSE:DHT)
Historical Stock Chart
From Apr 2023 to Apr 2024