Home World Hunter Group secures financing for newbuildings

Hunter Group secures financing for newbuildings

Hunter Tankers AS, a wholly owned subsidiary of Hunter Group ASA, is pleased to announce that it has signed a binding agreement for a $220m loan facility from a syndicate of banks consisting of Danske Bank, DNB, Nordea and SEB. The proceeds will be used to fund the final instalments for the Company’s four remaining newbuild VLCCs, as well as general corporate purposes, and will be drawn on delivery of each vessel. The facility will carry a 275bps margin over LIBOR, and have a 16 year repayment profile.