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.
Recommended Reading
Chatterjee Fund Management Boosts Stake in Tellurian to 7.3%
2023-12-28 - Chatterjee bought almost 13 million shares between Dec. 13 and Dec. 22, days after Tellurian ousted its chairman and co-founder Charif Souki.
SM Energy Increases Quarterly Cash Dividend
2024-01-01 - SM Energy’s $0.18 per share dividend will be payable on Feb. 5, 2024, to stockholders on record by Jan. 19, 2024.
Energy Transfer Seeks to Raise $3.8 Billion Through Offering of Notes
2024-01-11 - Energy Transfer is offering $3 billion in senior notes with the sale expected to settle Jan. 25.
ArcLight Creates AlphaGen to Manage Firm’s US Power Infrastructure Portfolio
2024-01-11 - Alpha Generation, owned by ArcLight Capital Partners, will manage one of the U.S.’ largest power infrastructure portfolios with annual revenues of about $2 billion.
NW Natural Renewables Promotes Chittum to President
2024-01-12 - Anna Chittum replaces Mike Kotyk at NW Natural Renewables, a subsidiary of Northwest Natural Holding Co.