Euronav has followed up a $186m sale-and-leaseback deal with a new $410m revolving credit facility to refinance 11 VLCCs.
The new loan matures in 2023 and carries a rate of Libor plus a margin of 2.25%.
Hugo De Stoop, chief financial officer of Euronav, said: “This new facility will provide a lot of flexibility for Euronav.
“It is a full revolving facility replacing a term loan, it has a lower margin than the facility it is refinancing and it has a much longer maturity.
“The
