Okeanis Eco Tankers Corp. (ECO) has released an update.
Okeanis Eco Tankers Corp. has secured a new $31.11 million credit facility with Bank SinoPac Co., Ltd to finance the repurchase of the Suezmax vessel Poliegos, aiming to improve their capital structure and adapt to evolving financial markets. The facility offers a reduced interest rate compared to previous financing, indicating a strategic move towards diversifying debt financing options in light of upcoming banking reforms. Since June 2023, Okeanis has refinanced its entire fleet, achieving significant cost savings and extending debt maturities.
For further insights into ECO stock, check out TipRanks’ Stock Analysis page.
