Oceanis Eco Tankers secures $113 million loan with ABN Amro bank to refinance VLCC and suezmaxes.

The Greek Ioannis A. Alafouzos-led company said the $113 million senior secured credit facility is being provided by ABN Amro bank to refinance existing indebtedness at significantly improved terms, in line with the company’s strategy towards capital structure optimization.

The proceeds will be used to refinance existing indebtedness under the VLCC vessel Nissos Keros and the Suezmax vessels Kimolos and Folegandros, and prepay the company’s scrubber financing, at equal leverage terms.

The shipowner of VLCC and Suezmax ships said the facility is repaid quarterly, matures in 5 years, is priced at 190 basis points above the secured overnight financing rate, and will be secured by the Nissos Keros, the Kimolos and the Folegandros.

The company added that the pricing is not further adjusted by the historical Credit Adjustment Spread of 26 basis points, translating to a US Libor-based credit spread equivalent of 164 basis points.

The Oslo-listed Oceanis has a fleet which consists of six modern scrubber-fitted suezmax tankers and eight modern scrubber-fitted VLCC tankers.