Kurs & Likviditet
Beskrivning
| Land | Norge |
|---|---|
| Lista | OB Match |
| Sektor | Tjänster |
| Industri | Shipping & Offshore |
Oslo, 18 December 2023: Gram Car Carriers ASA ("GCC"), the world's third-largest car carrier tonnage provider, has signed an agreement to refinance the debt for the Mediterranean Sea (5,000 CEU, 2010) through a drawdown of an accordion facility under the Group's existing senior secured credit facility.
The accordion facility comprises a 15 million term loan and a 15 million revolving credit at terms identical to the existing senior secured facility with a grid pricing at 2.4% above SOFR, which may reduce to 2.25% when net debt to EBITDA falls below 1.5. This compares to 3.25% above SOFR before the refinancing. Available commitments under the senior secured credit facility have increased from USD 302 million to USD 332 million. The refinancing will generate net cash proceeds of around USD 4 million and a USD 19 million increase of the Group's liquidity reserve.
"The Mediterranean Sea refinancing is a confirmation that leading credit institutions appreciate our robust financial position and credit quality which is backed by a fleet on long-term contracts p with a record revenue backlog and long-term cash flow visibility," said Georg A. Whist, the CEO of GCC.
For further information, please contact:
CFO Gunnar S. Koløen
E-mail: ir@gramcar.com
Head of Projects and IR Mas Gram
E-mail: ir@gramcar.com
About Gram Car Carriers:
GCC is the world's third-largest tonnage provider within the Pure Car Truck Carriers (PCTCs) segment with 19 owned vessels, across the Distribution, Mid-size and Panamax segments. The Company serves as a trusted provider of high-quality vessels and logistics solutions ensuring safe, efficient and punctual shipment of vehicles for a network of clients comprising of major global and regional PCTC operators. To lean more, please visit gramcar.com.
This information is subject to the disclosure requirements pursuant to Section 5 -12 the Norwegian Securities Trading Act.