Oslo, 4 December 2023: Gram Car Carriers ASA ("GCC"), the world’s third-largest car carrier tonnage provider, has signed an agreement to refinance the leasing debt for the Viking Bravery (6,700 CEU, 2015) with a new USD 35 million term loan priced at SOFR +1.65%.
The new term loan is provided by DekaBank Deutsche Girozentrale and has a maturity that matches the duration of the vessel’s current timecharter contract. The loan will be used to repurchase the Viking Bravery which has since January 2022 been financed with lease debt priced at SOFR +4.26%.
“We have successfully rechartered our fleet on long-term contracts in a strong car shipping market, building a record revenue backlog and long-term cash flow visibility. The Viking Bravery refinancing demonstrates that our robust financial position and credit quality is appreciated by leading credit institutions. We are also very pleased to expand our bank group to include DekaBank,” said Georg A. Whist, the CEO of GCC.
For further information, please contact:
CFO Gunnar S. Koløen
E-mail: ir@gramcar.com
Head of Projects and IR Mas Gram
E-mail: ir@gramcar.com
About Gram Car Carriers:
GCC is the world's third-largest tonnage provider within the Pure Car Truck Carriers (PCTCs) segment with 19 owned vessels, across the Distribution, Mid-size and Panamax segments. The Company serves as a trusted provider of high-quality vessels and logistics solutions ensuring safe, efficient and punctual shipment of vehicles for a network of clients comprising of major global and regional PCTC operators. To lean more, please visit gramcar.com.
This information is subject to the disclosure requirements pursuant to Section 5 -12 the Norwegian Securities Trading Act.