Bangkok-listed Precious Shipping said Bank of Ayudhya has withdrew as one of the original lenders and thereby reducing the amount of the total credit facility to $150m.
The original loan amount of $250m had already been reduced to $200m on 18 July 2011. The remaining lenders are Bank of Tokyo-Mitsubishi UFJ, Kasikornbank and Thanachart Bank.
The arranged credit facilities will be used to fund the acquisition of secondhand vessels, according to Precious Shipping.
The availability period of the remaining credit facilities is extended for another year up to 30 June 2013, along with an unspecified increase in the margin of the loan.
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