Loan & DebtMay 4, 2026, 12:01 AM
Okeanis Eco Tankers Secures $190M in New Loan Facilities
AI Summary
Okeanis Eco Tankers Corp. announced it has entered into three new loan facility agreements totaling $190.0 million. This includes a $90.0 million facility for two new Suezmax vessels, Nissos Tigani and Nissos Vous, and two separate $50.0 million facilities to repurchase Nissos Rhenia and Nissos Despotiko from their current sale and leaseback financiers. CFO Iraklis Sbarounis stated these transactions complete the funding for the new Suezmaxes and the transition away from all legacy sale and leaseback arrangements, improving the company's debt structure and reducing interest expenses.
Key Highlights
- Secured $90.0M facility for two new Suezmax vessels, Nissos Tigani and Nissos Vous.
- Obtained $50.0M facility to repurchase Nissos Rhenia from its sale and leaseback financier.
- Received $50.0M facility to repurchase Nissos Despotiko from its sale and leaseback financier.
- Total new loan facilities amount to $190.0M.
- Completes funding for the acquisition of the two new Suezmax vessels.
- Completes transition away from all legacy sale and leaseback transactions.
- Estimates over 200 basis points improvement in average debt margin pricing across the fleet.
- Extended loan maturities, with some running until 2035.