DHT entered into a new $250 million reducing revolving credit facility.
The facility has a seven-year tenor and bears interest at SOFR plus a margin of 135 basis points. It has a final maturity in June 2033 and a 20-year repayment profile. Additionally, it includes a $250 million uncommitted accordion.
The new facility enhances the company’s financial flexibility, extends its debt maturity profile, and further optimizes its capital structure.
Nordea Bank Abp has arranged the facility and will act as agent and security agent. The syndicate of lenders comprises ING Bank, DNB Bank ASA, ABN AMRO Bank, Crédit Agricole Corporate and Investment Bank, Danish Ship Finance A/S and Skandinaviska Enskilda Banken AB.
“We are pleased to complete this refinancing together with our strong and supportive group of leading shipping banks,” Svein Moxnes Harfjeld, president and CEO of DHT, said. “The facility strengthens our liquidity profile and extends maturities at attractive terms.”
The facility will be available for general corporate purposes, including refinancing of existing indebtedness.
