Brief: Concordia Maritime Agreed Upon Conditional Agreement With Stena Bulk AB On Time Charter Of All Of Co's Ten P-Max Product Tankers

Concordia Maritime AB

12/07/2021 17:58

July 12 (Reuters) - Concordia Maritime AB  CCORb.ST :
    * AGREED UPON CONDITIONAL AGREEMENT WITH STENA BULK AB ON
TIME
CHARTER OF ALL OF COMPANY'S TEN P-MAX PRODUCT TANKERS
    * TIME CHARTER AND GUARANTEE ARE REQUIRED IN ORDER TO ENTER
INTO A
BINDING AGREEMENT WITH BANKS
    * CONCORDIA AND BANKS ARE EXPECTED TO ENTER INTO BINDING
AGREEMENTS ON NEW TERMS AND CONDITIONS OF FINANCING IN AUGUST
2021
    * UNTIL END OF 2024 COMPANY WILL FOCUS ON AMORTISING ITS'
DEBT TO
BANKS IN ACCORDANCE WITH TERM SHEET
    * CONCORDIA MARITIME- AGREED WITH SOME LENDING BANKS TERM
SHEET
CONCERNING NEW TERMS, CONDITIONS FOR LOAN TO APPLY UNTIL CURRENT
LOAN MATURES IN Q4 2024
    * ANY POSSIBLE PAYMENT OF DIVIDENDS DURING THIS TIME IS
THEREFORE
CONDITIONAL UPON CONSENT OF BANKS

Source text for Eikon:  ID:nWkr7xqhJm 
Further company coverage:  CCORb.ST 

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