Okeanis Eco Tankers Corp. – New Loan Agreement

Core Viewpoint - Okeanis Eco Tankers Corp. has secured a $65 million term loan facility to finance the purchase of the Nissos Kea, reflecting the company's strong financial position and relationships with financing partners [1][2][3] Group 1: Loan Details - The new secured term loan facility amounts to $65 million, with an interest rate of Term SOFR plus 135 basis points, maturing in seven years [1] - The loan will be repaid in quarterly installments of $0.9 million, with a balloon payment of $39.8 million at maturity [1] - The loan is secured by a mortgage over the Nissos Kea and guaranteed by the company, including standard covenants [1] Group 2: Financial Strategy - The company aims to improve its capital structure, having reduced debt service breakeven costs and extended maturity profiles through recent loan agreements [3] - The company has secured loans for its three youngest VLCC vessels, indicating competitive terms and maturities extending to 2032 [2] - There is potential for further enhancement of the company's debt position with upcoming refinancing opportunities in 2026 [3] Group 3: Company Overview - Okeanis Eco Tankers Corp. is a leading international tanker company, incorporated in 2018, providing seaborne transportation of crude oil and refined products [4] - The company's fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers [4]