ATHENS, GREECE, May 4, 2026 - Okeanis Eco Tankers Corp. (the "Company" or "OET")
(NYSE:ECO / OSE:OET), announced today that it has entered into three new loan
facility agreements.
We entered into a $90.0 million facility agreement to finance a portion of the
acquisition price of our two recently acquired newbuilding contracts relating to
two new Suezmax vessels, each under construction at Daehan Shipbuilding Co.,
Ltd., to be named Nissos Tigani and Nissos Vous, with expected deliveries from
the shipyard in May 2026 and July 2026, respectively (the "Nissos Tigani and
Nissos Vous Facility"). The Nissos Tigani and Nissos Vous Facility is provided
by a syndicate of banks, led and arranged by E.SUN Commercial Bank, Ltd. It
contains an interest rate of Term SOFR plus 120 basis points, matures in eight
years, and will be repaid in quarterly installments of $1.07 million, together
with aggregate balloon installments of $55.76 million at maturity, related to
both vessels. It will be secured by, among other things, mortgages over the
Nissos Tigani and the Nissos Vous, and it will be guaranteed by the Company. The
transaction is expected to close in May 2026 and July 2026, respectively, for
each of the two vessels.
We entered into a $50.0 million facility agreement to finance the previously
announced declaration of our option to purchase back the Nissos Rhenia from its
current sale and leaseback financier (the "Nissos Rhenia Facility"). The Nissos
Rhenia Facility is provided by a prominent Greek bank. It contains an interest
rate of Term SOFR plus 125 basis points, matures in seven years, and will be
repaid in quarterly installments of $0.825 million, together with a balloon
installment of $26.9 million at maturity. It will be secured by, among other
things, a mortgage over the Nissos Rhenia, and it will be guaranteed by the
Company. The transaction is expected to close in May 2026.
We entered into a $50.0 million facility agreement to finance the previously
announced declaration of our option to purchase back the Nissos Despotiko from
its current sale and leaseback financier (the "Nissos Despotiko Facility"). The
Nissos Despotiko Facility is provided by another prominent Greek bank. It
contains an interest rate of Term SOFR plus 130 basis points, matures in nine
years, and will be repaid in quarterly installments of $0.825 million, together
with a balloon installment of $20.3 million at maturity. It will be secured by,
among other things, a mortgage over the Nissos Despotiko, and it will be
guaranteed by the Company. The transaction is expected to close in June 2026.
All facility agreements contain standard representations, warranties and
covenants, including financial covenants, and are subject to standard conditions
precedent, such as the delivery of the relevant vessel.
Iraklis Sbarounis, CFO of the Company, commented:
"We are pleased to announce our most recent bank financing transactions.
First, these transactions complete the funding of the acquisition of our two
resale newbuilding Suezmaxes, following our successful equity raise in January.
Similar to the structure we executed for the Nissos Piperi and Nissos
Serifopoula, we structured the acquisitions of the Nissos Tigani and Nissos Vous
in a way that we believe preserves our dividend capacity, funded by fresh
accretive equity capital and competitive bank debt. This transaction has been
our third with Taiwanese banks in the last two years. We are pleased with the
progress and relationships we are developing in that market, and look forward to
working with current and new partners in the future.
Second, these transactions also complete our transition away from all our legacy
sale and leaseback transactions. The sale and leaseback transactions served
their purpose well in supporting the start of our journey as a public entity