Term sheet with lending banks completed – Concordia Maritime signs agreements on new loan terms and conditions
Concordia Maritime has entered into binding agreements with lending banks regarding new loan terms and conditions for eight of the Company's ten P-MAX vessels. The new terms and conditions are valid until the end of Q4 2024.The new agreements are fully in line with the term sheet that was announced on 12 July 2021. The main elements of the agreements are lower repayment rates and new covenant levels. Concordia Maritime intends shortly to enter into binding agreements with corresponding loan terms with the lender for the Company's remaining two P-MAX vessels. “It is pleasing to have our