Okeanis Eco Tankers Corp. (the “Company” or “OET”) (Oslo Bors: OET) announced the closing of a new $113 million senior secured credit facility (the “Facility”) provided by ABN AMRO BANK N.V., to refinance existing indebtedness at significantly improved terms, in line with the Company’s strategy towards capital structure optimization.

The proceeds will be used to refinance existing indebtedness under the VLCC vessel Nissos Keros and the Suezmax vessels Kimolos and Folegandros, and prepay the Company’s scrubber financing, at equal leverage terms. The Facility is repaid quarterly, matures in 5 years, is priced at 190 basis points above the Secured Overnight Financing Rate (“SOFR”), and will be secured by the Nissos Keros, the Kimolos and the Folegandros. The pricing is not further adjusted by the historical Credit Adjustment Spread (“CAS”) of 26 basis points, translating to a US Libor-based credit spread equivalent of 164 basis points.

About OET

OET is a leading international tanker company providing seaborne transportation of crude oil and refined products. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Bors under the symbol OET. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers.