Okeanis Eco Tankers agrees $84m debt refinancing loan

Greek owner Okeanis Eco Tankers has secured a new $84m senior secured credit facility from Crédit Agricole to refinance existing debt at improved terms.

The facility is expected to be drawn in two tranches within September 2023. The proceeds will be used to refinance existing debt under the suezmax vessels Nissos Sikinos and Nissos Sifnos.

According to the company, the loan will be repaid quarterly, matures in six years, is priced at competitive and accretive levels, and will be secured by the two vessels.

In early July, Okeanis Eco Tankers secured a $113m loan to refinance existing debt under the VLCC Nissos Keros and the suezmax pair Kimolos and Folegandros and prepay the company’s scrubber financing.

The Oslo-listed Alafouzos family-owned company boasts a fleet of six suezmaxes and eight VLCCs.