Performance Shipping Entered To Sale And Leaseback Agreement For Previously Announced Newbuild LR2 Aframax Tanker; Bareboat Financing Totals $44.25M And Sold For 8-Year-Period For $7,132/Day And Balloon Payment Of ~$23.7M Payable With Last Installment
Portfolio Pulse from Benzinga Newsdesk
Performance Shipping has entered into a sale and leaseback agreement for a newbuild LR2 Aframax tanker. The bareboat financing totals $44.25 million, and the tanker is sold for an 8-year period at $7,132 per day with a balloon payment of approximately $23.7 million payable with the last installment.
July 16, 2024 | 1:31 pm
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Performance Shipping has secured a sale and leaseback agreement for a newbuild LR2 Aframax tanker, providing $44.25 million in financing. The agreement includes an 8-year lease at $7,132 per day and a final balloon payment of approximately $23.7 million.
The sale and leaseback agreement provides significant financing for Performance Shipping, which can improve liquidity and financial stability. The 8-year lease ensures steady revenue, and the final balloon payment structure is manageable.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100