MPC Container Ships has entered into a $40 million three-year revolving credit facility agreement with CIT Group at attractive terms. Drawdowns under the facility may be used toward investments, vessel upgrades or general corporate purposes.
“We are very satisfied with the cooperation demonstrated by CIT’s Maritime Finance team and their support in further positioning MPC Container Ships as a leading tonnage provider within the feeder container space. With the new credit facility, we add a highly flexible instrument to our capital structure whilst adhering to the company’s strategy of moderate leverage. Moreover, the facility ensures additional financial strength for MPC Container Ships in anticipation of improved market conditions,” said CEO Constantin Baack.
Oslo-based MPC Container Ships was formed in April 2017. Its main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU.
