In a statement New York-listed Ardmoresaid proceeds from the freshly minted credit facility will be used to financeup to 65% of the purchase price of two newbuildings that are already underconstruction.
“The facility will be an amortizing senior term loan with a final maturityseven years from the date of drawdown,” the operator continued, adding: “Thecovenants and other conditions are consistent with those of the company’sexisting credit facilities.”
In
