USD 50.5 million increase of bank loan facility and delivery of the vessel "Geco Triton"
22 Dec 2014
Ocean Yield has entered into an agreement to increase one of its bank loan facilities by USD 50.5 million. The loan proceeds will be used for funding of the equity portion of investments in vessels and for general corporate purposes. The final maturity of the bank facility is in September 2018.The vessel "Geco Triton" has now been delivered to its new owners and Ocean Yield has received net cash proceeds of USD 8.2 million from the sale of the vessel.For further information, please contact: Eirik Eide, CFO of Ocean Yield ASA Phone: +47 24 13 01 91About Ocean Yield: Ocean Yield is a ship owning company with investments within oil-service and industrial shipping. The company focuses on modern assets with long-term charters to solid counterparties. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity. Ocean Yield has an ambition to pay attractive and growing quarterly dividends to its shareholders.