Concordia Maritime Agreed Upon Conditional Agreement With Stena Bulk AB On Time Charter Of All Of Co's Ten P-Max Product Tankers

T-Reuters

2021-07-13

Concordia Maritime AB :Agreed Upon Conditional Agreement With Stena Bulk Ab On Time Charter Of All Of Company'S Ten P-Max Product Tankers.Time Charter And Guarantee Are Required In Order To Enter Into A Binding Agreement With Banks.Concordia And Banks Are Expected To Enter Into Binding Agreements On New Terms And Conditions Of Financing In August 2021.Until End Of 2024 Company Will Focus On Amortising Its' Debt To Banks In Accordance With Term Sheet.Concordia Maritime- Agreed With Some Lending Banks Term Sheet Concerning New Terms, Conditions For Loan To Apply Until Current Loan Matures In Q4 2024.Any Possible Payment Of Dividends During This Time Is Therefore Conditional Upon Consent Of Banks.

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