Top Ships completes tanker fleet refinancing

Top Ships (TOPS) closed the previously announced sale and leaseback financing agreements with a major Chinese financier for the refinancing of its two 300,000 dwt VLCC tankers, the M/Ts Julius Caesar and Legio X Equestris, its 157,000 dwt Suezmax tanker, the M/T Eco Oceano and its 50,000 dwt MR Product Tanker, the M/T Eco Marina Del Ray. The gross proceeds before fees and related expenses but after repayment of previous debt amounted to about $27.2 million.