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DHT raises $227m, reveals LOI for three VLCCs

DHT raises $227m, reveals LOI for three VLCCs
DHT Holdings has entered agreements to raise $217m and signed a letter of intent for three VLCCs at Hyundai Heavy Industries (HHI).

The company has agreed the sale of 30.3m shares for an aggregate of $227m, of which the company will net $217m. The direct offering is expected to close on 5 February.

The VLCCs have been signed for at $97.3m each, with $2.3m in upgrades over the standard specification. The ships are expected to be delivered in one per month from September 2016.

RS Platou Markets and DNB Markets are acting as joint lead managers for the offering with RS Platou Markets acting as placement agent.

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