SPY423.34+0.23 0.05%
DIA339.28-0.17 -0.05%
IXIC14,283.08+29.81 0.21%

BRIEF-Torm Buys Three 2015-Built Scrubber-Fitted LR2 Vessels

05/12/2021 02:34
BRIEF-Torm Buys Three 2015-Built Scrubber-Fitted LR2 Vessels

- Torm PLC TRMD.O:

  • PURCHASES THREE 2015-BUILT SCRUBBER-FITTED LR2 VESSELS

  • VESSELS ARE EXPECTED TO BE DELIVERED DURING REMAINDER OF Q2 AND Q3 OF 2021

  • OBTAINED COMMITMENT FOR FINANCING OF TWO OF VESSELS FROM DANISH SHIP FINANCE FOR USD 60.0M SUBJECT TO FINALIZATION OF DOCUMENTATION

  • THIRD VESSEL IS EXPECTED TO BE FINANCED THROUGH A SALE AND LEASEBACK AGREEMENT WITH A CHINESE FINANCIAL INSTITUTION FOR PROCEEDS OF USD 32.2M

  • EXPECTS TO ENTER INTO TWO ADDITIONAL SALE AND LEASEBACK AGREEMENTS PROVIDING USD 24M IN NET LIQUIDITY

  • AFTER END QUARTER, TORM HAS ALSO SOLD MR VESSEL TORM CARINA

  • SALE WILL GENERATE USD 6M IN LIQUIDITY

Source text for Eikon: ID:nGNE8BYnq3

Further company coverage: TRMD.O


(Gdansk Newsroom)

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