Okeanis Eco Tankers Corp. announced on May 8, 2025, that it has declared its options to purchase back three VLCC vessels: Nissos Kea, Nissos Nikouria, and Nissos Anafi, from their current sale and leaseback financier. This move aims to optimize the company's capital structure.
The company has secured a new $130.0 million senior secured credit facility with a Greek bank to finance the buyback of Nissos Nikouria and Nissos Anafi. This facility features an interest rate of Term SOFR plus 140 basis points and a seven-year maturity.
The new credit facility for Nissos Nikouria and Nissos Anafi will be repaid in quarterly installments of $1.9 million for both vessels, with balloon installments of $76.8 million. The closing for Nissos Nikouria is expected in June 2025 and for Nissos Anafi in August 2025. The company is also working on financing for Nissos Kea, anticipating similar terms and a June 2025 closing.
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