Oil transportation services company Gener8 Maritime signed an agreement with banks for a $259.6 million term loan facility which will support a VLCC newbuilding program. Citibank, EX-IM Bank of China and Bank of China arranged the financing.
Gener8 Maritime said it secured a $60.2 million term loan facility from Blue Mountain Capital to fund payments remaining on one of the company’s VLCC newbuildings. Citibank acted as a facility and collateral agent.
Gener8 Maritime entered into a senior secured credit facility for up to $963.7 million of debt financing and a refinancing facility with Nordea Bank Finland, which provides $581.0 million in term loans.