TOP Ships Inc. Announces New Financings
17 July 2019 - 10:30PM
TOP Ships Inc. (the “Company”), an international owner and operator
of modern, fuel efficient “ECO” tanker vessels currently focusing
on the transportation of crude oil and petroleum products,
announced today that it has concluded a Financing Agreement with a
major Chinese Financier. The gross proceeds from the new financing
amount to $25.6m and will be used mainly to refinance the facility
of M/T Stena Weco Excellence with Nord LB. The tenor of the new
facility is 10 years.
The company also announced that it intends to
enter into 2 additional Financing Agreements with the same
financier at similar terms, in order to exercise its purchase
options for the M/Ts Stena Weco Energy and Stena Weco Evolution.
These acquisitions are expected to be concluded during the fourth
quarter of 2019.
Evangelos Pistiolis, the President, Chief
Executive Officer and Director of the Company, said:
“We are very pleased to have concluded this
financing with a very high quality financier and look forward to
concluding the two additional financings. These new financings will
lead to a lower cost of debt for the 3 vessels overall.”
About TOP Ships Inc.
TOP Ships Inc. is an international ship-owning company.
For more information about TOP Ships Inc., visit its
website: www.topships.org.
Forward-Looking Statements
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation
Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and is including this cautionary statement in connection with this
safe harbor legislation. The words “believe,” “anticipate,”
“intends,” “estimate,” “forecast,” “project,” “plan,” “potential,”
“may,” “should,” “expect” “pending” and similar expressions
identify forward-looking statements. The forward-looking statements
in this press release are based upon various assumptions, many of
which are based, in turn, upon further assumptions, including
without limitation, our management’s examination of historical
operating trends, data contained in our records and other data
available from third parties. Although we believe that these
assumptions were reasonable when made, because these assumptions
are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.
Contacts: TOP Ships Inc. Tel: +30 210 812
8107 Email: info@topships.org
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