Loan agreement with NORD/LB to fund newbuildings

Tankerska Next Generation Inc. has secured the remaining funds needed to finance new buildings "Zoilo" and "Dalmacija" by concluding a loan agreement with the German bank Norddeutsche Landesbank Girozentrale (NORD/LB). The transaction, worth up to 47.45 million dollars, is a natural continuation of the IPO and allows Tankerska Next Generation Inc. to continue the strategy of moderate indebtedness focused on efficiency and the creation of value to shareholders.

The loan tenor is six years after the delivery of the vessels and was concluded with competitive market conditions for ship financing. It will be repaid in 24 consecutive quarterly installments based on a 15 year repayment profile and a balloon repayment of the remaining balance bringing the outstanding balance to zero and which is due together with the final installment.

"Ensuring financing in a very demanding international market with a prominent financial institution confirms the company's efforts and commitment to excellence in business management. With NORD/LB we have received strong support for our growth and development while improving flexibility of the financial position by expanding the number of banks participating in the funding of the company.

In this way, we secured the optimal ratio of debt and equity financing, thus creating a strong foundation for the realization of our strategy, increasing the available cash flow and maximizing shareholder value while reducing business risk by entering into medium-term time charter agreements.", said John Karavanić, CEO of Tankerska Next Generation.