DHT Holdings, Inc. announced today that it has entered into firm commitments for the debt financing of four of its new buildings 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 said: “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.”