Ship Finance International (SFI) has received commitments for the financing of seven newbuilding Handysize drybulk carriers scheduled for delivery in 2011 and 2012, and for a 1,700TEU container vessel delivered in the fourth quarter of 2010.
The loan amount will be up to approximately US$171 million, or approximately 77 percent of the contract price of the vessels, and will have a term of 10 years.
SFI also agreed with some of its existing banks to extend the maturity of a financing relating to five VLCCs on charter to Frontline by an additional six years. The loan facility was originally due for refinancing in the second half of 2012 with an outstanding amount of US$167 million at that time. Following the new agreement with the banks, the loan facility will now have final maturity in 2018 and will continue to amortise in line with the current loan profile.
