The loan will be used to finance up to 65% of the purchase price of two vessels on order, the product and chemical tanker owner announced.
“We have now secured financing for all of our vessels on order well ahead of their scheduled deliveries in late 2014 and 2015,” said Anthony Gurnee, ceo of Ardmore Shipping.
“At the same time, we have significantly expanded Ardmore’s banking relationships, which, in conjunction with our recent equity offering, ensures that we have substantial financial flexibility and the capacity to pursue attractive growth opportunities in a disciplined manner,” he added.
The new facility will be an amortising senior term loan with a final maturity seven years from the date of drawdown.
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