The 2007 Japanese-built, 45,998 dwt product tanker "FSL Osaka". Image by FSL Trust.

Debt reduction through utilisation of available cash and pledging of FSL Osaka to lenders

14 March 2017

The Board of Directors of FSL Trust Management Pte. Ltd., as Trustee-Manager of First Ship Lease Trust (“FSL Trust”), wishes to announce that the Trust will prepay United States Dollars 20 million of the principal amount under the Syndicated Loan Facility, at the end of this quarter from available cash, thereby reducing the outstanding loan balance.

In addition, FSL Trust will pledge FSL Osaka, a 2007 Japanese-built, 45,998 dwt MR Product tanker acquired in 2015 to the Lenders.

First Ship Lease Trust press release