Oslo-listed American Shipping Company (AMSC) has finalised its new $305m loan package despite coronavirus turmoil in financial markets.
The company said the facility refinances nine of its 10 products tankers chartered to OSG, "despite the current challenging financial environment."
The five-year deal involves new and existing lenders.
AMSC chief executive Pal Lothe Magnussen said: "The new facilities, with attractive terms, provide further support for AMSC's strong debt service coverage and dividend capacity.
