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Tuesday 23.05.2017 | Name days: Leontīne, Ligija, Lonija, Leokādija
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Latvian Shipping Company reaches an agreement on loan refinancing

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULatvian Shipping Company has achieved an agreement in regards to loan contract conditions with a three-bank syndicate – HSH Nordbank, DVB Bank SE, SEB (Stockholm) – for the refinancing of the USD 360 million loan.

Loan refinancing conditions will be detailed in the final version of the document.

While the final conditions are being discussed, Latvian Shipping Company expects to repay the remaining USD 121 million before 22 June 2022, as confirmed by the company’s spokesperson Artis Ozolins.

«We are delighted to be able to sign the firm term sheet with the banks today. The new refinancing agreement will, once completed, guarantee a safe and steady cash flow of the LSC group and, at the same time, will allow the company to develop its global business,» – LSC Chairman of the Board Robert Kirkup reveals, adding that the agreement is subject to the negotiation of remaining terms and conditions.

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