Odfjell SE : Refinancing

Odfjell SE has entered into a term loan facility agreement with DNB Bank ASA, Danske Bank AS, DVB Bank America N.V and Swedbank AB for refinancing of existing loans on the vessels Bow Sea, Bow Sun and Bow Summer. DNB Bank ASA is acting as the agent bank and the total loan is USD 112 million. The loan has a 5-year term with 10-year profile.

Odfjell Asia II Pte Ltd, indirectly fully owned by Odfjell SE, has entered into a term loan facility agreement with Nordea Bank Norge for refinancing of existing loans on the vessels Bow Dalian, Bow Fuling, Bow Nangang and Bow Star. The total loan is USD 78.5 million. The loan has a 5-year term with 13-year profile.

This means that we have completed all scheduled vessel refinancing in 2015. The refinancing will give Odfjell SE USD 43.8 million in added liquidity. 

Terje Iversen
CFO/SVP Finance, Odfjell SE
Phone: + 55 27 00 00
Email: terje.iversen@odfjell.com