FSL Trust Management Pte. Ltd. (FSLTM) has successfully entered into a Loan Agreement with its syndicate of eight lenders for a 6-year amortising term loan of US$479.6 million, secured against its current portfolio of 25 vessels.
This new term loan facility will be used to refinance its existing revolving credit facility with an outstanding loan balance of US$483.1 million. The remaining loan balance of US$3.5 million will be repaid in cash from FSL Trust’s internal funds.
The new term loan facility is provided by a syndicate of banks led by ABN Amro Bank N.V., Singapore Branch and Oversea-Chinese Banking Corporation Limited as Mandated Lead Arrangers and Bookrunners. The other Mandated Lead Arrangers are The Bank of Tokyo-Mitsubishi UFJ Co., Ltd. (“BTMU”), UniCredit Bank AG, Singapore Branch (“UniCredit”), Sumitomo Mitsui Banking Corporation, Singapore Branch, The Korea Development Bank, ITF International Transport Finance Suisse AG and KfW IPEX-Bank GmbH. BTMU and UniCredit are the Facility Agent and Security Trustee respectively.