The Right Stuff – d’Amico Gets Club Loan

On Tuesday, d’Amico International Shipping S.A. announced that its operating subsidiary d’Amico Tankers Limited – Ireland entered into a 7-year $48 million term loan facility with Credit Agricole CIB and DnB NOR for the financing of two 52,000 DWT MR Product/Chemical tanker newuildings. Proceeds will be used to partially finance the remaining installments of $56 million. The facility bears a highly competitive interest rate and is secured mainly by 1st priority mortgages and a parent guarantee. Under construction at Hyundai Mipo, the vessels will be delivered in March and April 2012.

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