Brief: American Shipping Company Acquires New Vessel

Amsc ASA

12/05/2022 15:48

May 12 (Reuters) - American Shipping Company ASA  AMSCM.OL :
    * NEW VESSEL ACQUISITION AND NEW LONG-TERM BAREBOAT CONTRACT
    * DELIVERY IN Q4 2022
    * TOTAL PURCHASE PRICE FOR VESSEL IS ABOUT USD 157 MILLION
    * TO FINANCE DEAL VIA 70% DEBT, REMAINING AMOUNT VIA
COMBINATION
OF CASH ON HAND AND NEW EQUITY
    * TRANSACTION IS ACCRETIVE ON ALL KEY FINANCIAL METRICS AND
IS
PROJECTED TO PRODUCE MORE THAN 20% ANNUAL RETURN ON EQUITY WITH
STRONG RUNNING DIVIDEND YIELD

Source text for Eikon:  ID:nWkr9v8NCS 
Further company coverage:  AMSCM.OL 

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