MPC Container Ships Fetches USD 40 Mn Credit

Norwegian shipowner MPC Container Ships has entered into a USD 40 million three-year revolving credit facility agreement.

The deal was signed with New York-based CIT Group at “attractive terms”, MPC Container Ships said.

The company added that drawdowns under the facility may be used toward investments, vessel upgrades or general corporate purposes.

“With the new credit facility, we add a highly flexible instrument to our capital structure whilst adhering to the company’s strategy of moderate leverage,” Constantin Baack, CEO of MPC Container Ships, said.

“Moreover, the facility ensures additional financial strength for MPC Container Ships in anticipation of improved market conditions,” Baack concluded.