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FINWIRES

Precious Shipping Secures Up to $8 Million Credit Facility

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Precious Shipping (BKK:PSL) and its Singapore unit Precious Horizon secured a new credit facility of up to $8.3 million from Export-Import Bank of Thailand.

The loan will be used to partially reimburse equity funding deployed for the acquisition of the medium-range tanker M/T Tharinee Naree, according to a Tuesday Thailand Exchange filing.

The facility carries an interest rate linked to SOFR plus margin and will be repaid over 16 quarterly instalments with a final balloon payment at maturity.

The financing is secured by the vessel and related income streams, it said.

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