Precious Shipping Signs $100 Million Loan for Vessel Buys
Stock Chart for Precious Shipping PCL (PSL)
Precious Shipping Pcl (PSL), the largest Thai dry-bulk shipping company, signed a $100 million term loan with Export-Import Bank of Thailand to finance as much as 80 percent of the acquisition costs of new and second-hand vessels.
The loan has a commitment fee equal to 0.7 percent per year of the undrawn facility, payable quarterly, and total monies outstanding will be repaid in 8.5 years, according to a regulatory statement by the company.
Precious Shipping has $318.6 million in loans outstanding, according to data compiled by Bloomberg.
To contact the reporter on this story: Katrina Nicholas in Singapore at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.