Brief: Torm Buys Three 2015-Built Scrubber-Fitted LR2 Vessels

Torm

12/05/2021 07:34

May 12 (Reuters) - 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 

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