PHILLY SHIPYARD LINES UP $150 MIL CAT FINANCIAL LOAN

摘要

Philly Shipyard, Inc. has signed a commitment letter with Caterpillar Financial Services Corporation (Cat Financial) for a $150 million loan facility to finance the construction of four next generation 50,000 dwt product tankers, designated as Hulls 025-028. The facility will be subject to a maximum borrowing amount of $75 million per vessel and secured by a first lien on the four vessels. The loans will accrue interest at three-month LIBOR plus 3.00% as defined in the commitment letter.