International Seaways’ joint ventures with Euronav, which own the FSO Africa and FSO Asia floating storage and offloading service vessels, closed on a $220 million credit facility. International Seaways received $110 million in proceeds from the drawdown of the facility.
Major tanker owner Euronav signed a new $750 million senior secured amortizing revolver with a lender group led by Nordea Bank Norge as facility agent. The credit facility will be secured by 25 vessels.
Euronav signed a new $340 million credit facility led by ING Bank as sole bookrunner and agent, together with Citibank, Danish Ship Finance, DnB Bank and KBC Bank acting as mandated lead arrangers.