Ardmore Shipping Corp. signed agreements to upsize its existing senior loan facility with ABN Amro Bank NV, Nordea Bank Finland Plc and Skandinaviska Enskilda Banken AB. Ardmore Shipping owns and operates a fleet of mid-size product and chemical tankers. The agreements increase the total amount available under the facility by $53 million to $225 million.
The expanded facility will be used to finance up to 65% of the purchase price of Ardmore Shipping’s three recent vessel acquisitions. It is an amortizing senior term loan with final maturity in early 2021.
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