Hunter Group ASA – RCF agreement with Apollo Asset Ltd.
Today, on 1 May 2019, Hunter Group ASAs subsidiary Hunter Tankers AS has signed a short-term USD 3.0 million revolving credit facility agreement with the company’s largest shareholder, Apollo Asset Ltd., a company owned by board member Mr. Arne Fredly.
The USD 3.0 million facility carries a total interest rate of 5.00% p.a., all inclusive. The outstanding amount under the facility is secured by parent guarantee from Hunter Group ASA. The facility is available as from the date hereof, and any outstanding amount must be repaid at the latest on the date prior to the date for the first VLCC delivery. Apollo Asset Ltd. may cancel the facility at any time, whereupon any outstanding amount become due and payable, on the earliest of (i) the date falling one month after such demand, and (ii) the date prior to the date for the first VLCC delivery.
The facility does not include any financial covenants and may be used to partially finance the group’s current newbuilding program and for general corporate purposes.
This stock exchange announcement is made pursuant to section 5-2 of the Norwegian Securities Trading Act.
Oslo, 1 May 2019