GOTHENBURG, Sweden,
Oct. 5, 2021 /PRNewswire/ --
Concordia Maritime has entered into binding agreements with
lending banks regarding new loan terms and
conditions for eight of the Company's ten P-MAX
vessels. The new terms and conditions are valid until the
end of Q4 2024.
The new agreements are fully in line with the term sheet that
was announced on 12 July 2021. The
main elements of the agreements are lower repayment rates and new
covenant levels. Concordia Maritime intends shortly to enter into
binding agreements with corresponding loan terms with the lender
for the Company's remaining two P-MAX vessels.
"It is pleasing to have our new agreement finally in place.
It has been a complex process with many parties involved - but we
now have a financing solution for the next three and a quarter
years. The new agreement and the chartering out of the P-MAX
vessels are important jigsaw puzzle pieces in our efforts to
improve the Company's financial position. With these pieces in
place, we now look forward to moving into the next
phase," says Concordia Maritime CEO Kim Ullman.
For more information, please contact:
Kim Ullman
CEO, Concordia Maritime AB
Tel: +46 31 85 50 03
Mob: +46 704 85 50 03
Email: kim.ullman@concordiamaritime.com
Martin Nerfeldt
CFO, Concordia Maritime AB
Tel: +45 88 938 661
Mob: +46 704 85 50 07
Email: martin.nerfeldt@concordiamaritime.com
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/concordia-maritime/r/term-sheet-with-lending-banks-completed---concordia-maritime-signs-agreements-on-new-loan-terms-and-,c3427068
The following files are available for download:
https://mb.cision.com/Main/1948/3427068/1477001.pdf
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Concordia Maritime -
Press release - 20211005
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