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Hamilton, Bermuda - January 9, 2023
DHT Holdings, Inc. (NYSE:DHT) ("DHT" or the "Company") today announces a new $305 million secured credit facility.
It is in line with the "DHT-style financing" including a six-year tenor and a 20-year repayment profile.
The new facility will bear interest at a rate equal to Secured Overnight Financing Rate (SOFR) plus a margin of 1.90%, including the historical Credit Adjustment Spread (CAS) of 26 basis points.
The cost of the facility compares to a Libor equivalent margin of 164 basis points, representing a reduction in the Company's borrowing cost.
The new facility will refinance the outstanding amount on the current ABN Amro credit facility and be secured by 10 of the Company's VLCCs.
ING and Nordea are acting as joint coordinators and bookrunners with ING, Nordea, Credit Agricole, Danish Ship Finance and SEB as mandated lead arrangers.
ING will act as agent for the credit facility, which was oversubscribed.
About DHT Holdings, Inc.
DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We operate through our integrated management companies in Monaco, Norway and Singapore.
You may recognize us by our renowned business approach as an experienced organization with focus on first rate operations and customer service; our quality ships; our prudent capital structure that promotes staying power through the business cycles; our combination of market exposure and fixed income contracts for our fleet; our counter cyclical philosophy with respect to investments, employment of our fleet, and capital allocation; and our transparent corporate structure maintaining a high level of integrity and good governance.
For further information please visit www.dhtankers.com
DHT Holdings, Inc. press release
