Navig8 Chemical Tankers has refinanced four vessels in a deal with a Chinese sale and leaseback company.
The shipowner, whose shares are listed on the Norwegian over-the-counter market, said it has banked net proceeds of $88.2m from the transaction with SPDB Financial Leasing (SPDBFL) for the unnamed IMO type 2, 37,000-dwt Interline-coated tankers.
Some of the money will be used to partially repay the company's existing multi-bank loan facility on the vessels, dating from February 2015, as well as a sale and leaseback facility with Norway's Ocean Yield entered...
