Navig8 Product Tankers Inc announces secured
financing for its first 8 LR2 newbuildings

June 11, 2014

Navig8 Product Tankers Inc. (the “Company”) is pleased to announce that it has secured financing for its first 8 LR2 newbuildings currently under construction at Sungdong Shipbuilding & Marine Engineering (Korea) and Guangzhou Shipyard International Company Limited (China).

The Loan facility covers approximately 65% of the contract price of the vessels and the facility is offered by a group of European banks (DVB Bank, BNP Paribas, Swedbank, Credit Agricole Corporate and Investment Bank, and NIBC Bank).

The loan facility secures the financing of all the Company’s LR2 vessels scheduled to deliver in 2015, and remains subject to final documentation.

Navig8 Group press release