d’Amico International Shipping announces the refinancing of the Bank Debt related to five of its MR vessels, through a new US$ 54.2 Million Term Loan Facility

d’Amico International Shipping S.A., an international marine transportation company operating in the product tanker market, announces that its fully-owned operating subsidiary d’Amico Tankers D.A.C. (Ireland) (“d’Amico Tankers” or “Subsidiary”), has signed a new US$ 54.2 million 5-year term loan facility with Credit Agricole Corporate and Investment Bank and ING, expected to be drawn down in the coming days and aimed at refinancing the loans related to the following five vessels:

• MT Cielo di Capri, a 39,043 dwt handysize product tanker vessel built in 2016 by Hyundai-Vinashin Shipyard Co. Ltd., Vietnam, and whose existing bank debt matures in May 2023.
• MT Glenda Melissa, MT Glenda Meryl, MT Glenda Melody, MT Glenda Melanie, four 47,200 dwt MR vessels built between 2010 and 2011 by Hyundai-Mipo, South Korea, all formerly owned by Glenda International Shipping d.a.c..

As of today, DIS’ fleet comprises 36 double-hulled product tankers (MR, Handysize and LR1, of which 19 owned, 9 chartered-in and 8 bareboat chartered-in) with an average age of about 7.5 years for its owned and bareboat chartered-in vessels.

Paolo d’Amico, Chairman and Chief Executive Officer of d’Amico International Shipping, stated:

“I am pleased to announce the signing of this new US$ 54.2 million term loan facility with two of our closest banks, which allow DIS to refinance the loan on Cielo di Capri maturing in 2023, with its related balloon, and to finance d’Amico Tankers’ recent acquisition of the four “Glenda” MR vessels. Thanks to our strong balance sheet and banking relationships, DIS managed to obtain this new financing at competitive terms and in a timely manner. I would also like to take the opportunity to thank Credit Agricole and ING for their continued support and trust across several decades and different market cycles.”

From today this press release is available on the investor relations section of DIS’ website, filed with the CSSF, disclosed through the e-market SDIR circuit and stored at Borsa Italiana S.p.A. through the emarketSTORAGE system and at Société de la Bourse de Luxembourg S.A. in its quality of OAM.

Source: d’Amico International Shipping