By Redacción PortalPortuario
@PortalPortuario
MPC Container Ships ASA (MPCC) of Norway, generated a new four-year revolving credit line agreement for USD 100 million with Hamburg Commercial Bank (HCOB).
This new revolving line of credit replaced the old ones of CIT y HCOB with a commitment of USD 75 million that was reimbursed and paid in full at the end of 2023. Therefore, after the payment of this debt, MPCC It does not have debt maturities until 2027.
This deal is secured by 14 vessels, releasing collateral on 9 vessels previously included in previous financing facilities, resulting in 38 vessels free of fleet debt. Therefore, the payment of the debt and this new line of credit further strengthened the balance sheet of MPCC which added substantial flexibility for future opportunities.
The financial director of MPCC, Moritz Fuhrmann, commented that this new agreement strengthens liquidity and the ability to seek opportunities that improve value in line with the business strategy, promoting the creation of long-term value for shareholders. This will generate a reduction in financing costs, releasing guarantees and improving the maturity profile.
2024-01-16 08:01:26
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