Oslo, 4 December 2023: Gram Car Carriers ASA ("GCC"), the world's third-largest
car carrier tonnage provider, has signed an agreement to refinance the leasing
debt for the Viking Bravery (6,700 CEU, 2015) with a new USD 35 million term
loan priced at SOFR +1.65%.
The new term loan is provided by DekaBank Deutsche Girozentrale and has a
maturity that matches the duration of the vessel's current timecharter contract.
The loan will be used to repurchase the Viking Bravery which has since January
2022 been financed with lease debt priced at SOFR +4.26%.
"We have successfully rechartered our fleet on long-term contracts in a strong
car shipping market, building a record revenue backlog and long-term cash flow
visibility. The Viking Bravery refinancing demonstrates that our robust
financial position and credit quality is appreciated by leading credit
institutions. We are also very pleased to expand our bank group to include
DekaBank," said Georg A. Whist, the CEO of GCC.
For further information, please contact:
CFO Gunnar S. Koløen
E-mail: ir@gramcar.com
Head of Projects and IR Mas Gram
E-mail: ir@gramcar.com
About Gram Car Carriers:
GCC is the world's third-largest tonnage provider within the Pure Car Truck
Carriers (PCTCs) segment with 19 owned vessels, across the Distribution, Mid
-size and Panamax segments. The Company serves as a trusted provider of high
-quality vessels and logistics solutions ensuring safe, efficient and punctual
shipment of vehicles for a network of clients comprising of major global and
regional PCTC operators. To lean more, please visit gramcar.com.
This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act.