Vista Shipping to Finance New Tankers with USD 111 Mn Loan
- Business & Finance
Vista Shipping, a joint venture between Hafnia and CSSC (Hong Kong) Shipping, has secured a USD 111 million loan to finance four newbuildings.
The term loan facility, that would finance four new LR1 tankers being built at Guangzhou Shipyard International, was agreed with a banking consortium consisting of KfW IPEX-Bank, Societe Generale Hong Kong Branch and OCBC Singapore.
The parties would each participate with 33% as lenders at the term loan facility and have reached financial close.
The 12-year post-delivery financing profits from Sinosure cover and is secured by first-ranking ship mortgages over the vessels as well as joint and several guarantees from Hafnia and CSSC (Hong Kong) Shipping.