Euronav gets $713m in loans as tanker outlook turns sour

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By Mike Turner
22 Oct 2020

Euronav, the Belgium based crude oil tanker company, has signed a $713m loan package, as the sector outlook turns bleak after a strong start to the year because of an overproduction of oil.

The facility is split between a $469m revolver and a $244m term loan.

Nordea, ABN Amro, BNP Paribas, DNB, ING and KBC were mandated lead arrangers and bookrunners. 

The facility will be used for refinancing and to finance acquisition costs relating to four oil tankers, as well as general corporate ...

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