Euronav US$ 300 million facility

Company Profiles, Stock Markets — By on June 24, 2013 at 10:55 PM

EURONAV funnelANTWERP, Belgium, 24 June 2013 – The executive committee of Euronav NV (NYSE EURONEXT: EURN) today announced that it has signed an extension of 4 years on its USD 300 million senior secured credit facility originally signed in April 2009 and which at the time of the extension had an outstanding of USD 221 million.

The facility will continue to finance 6 vessels: the VLCCs Olympia (2008 – 315, 981) and Antarctica (2009 – 315, 981 dwt) and four Suezmaxes: the Cap Felix (2008 – 158, 764 dwt), the Cap Theodora (2008 – 158, 800 dwt), the Felicity (2009 – 159, 000 dwt) and the Fraternity (2009 -159, 000 dwt).

Some of the banks which were participating in the facility before the extension were replaced by existing or new lenders. The lending banks involved in the extension consist of Nordea Bank Norge ASA (‘Nordea’), Crédit Agricole Corporate and Investment Bank (‘Crédit Agricole’), Skandinaviska Enskilda Banken AB (publ), DNB Bank ASA and Scotiabank (Hong Kong) Limited acting as Lead Arrangers; Nordea and Crédit Agricole acting as Bookrunners and Nordea as sole facility agent. ING Bank N.V., BNP Paribas SA, BNP Paribas Fortis SA/NV, Belfius Bank NV/SA, KBC Bank NV and Optima Bank acting as Co-Arrangers.

The facility, which has been extended until April 2018, will continue to have the same repayment profile of USD 20 million per year.
Euronav’s success at securing this extension emphasizes the confidence placed in the company in these difficult markets.

Second quarter results: Tuesday, 16 July 2013
Final half year results: Wednesday, 28 August 2013

About Euronav
Euronav is one of the world’s leading independent tanker companies engaged in the ocean transportation and storage of crude oil and petroleum products. The company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on NYSE Euronext Brussels under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav’s owned fleet, consists of 36 double hulled vessels being 1 V-Plus, 2 FSO vessels (both owned in 50%-50% joint venture), 11 VLCCs and 22 Suezmaxes (of which 4 in JV). Euronav vessels fly Belgian, Greek and French flag. More detailed information can be found on the company’s website : www.euronav.com
Regulated information within the meaning of the Royal Decree of 14 November 2007.

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