RCL and DnB sign $85m loan agreement
Regional Container Lines (RCL) has inked a loan agreement with DnB NOR Bank Asia to borrow up to $85m, Seatrade Asia reports.
The agreement is to refinance all existing DnB NOR Bank indebtedness related to vessels and accommodate working capital requirements. The tenor period is six years from drawdown with the repayment of 24 equal quarterly installments. RCL had in 2009 secured refinancing cash from DnB NOR Bank for up to $17.5m based on a five-year facility repayable in 20 equal quarterly installments.
Regional Container Lines (RCL), a feeder service and container operator, owns and operates 41 container vessels covering more than 70 destinations in Asia, Australasia and the Middle East. RCL's fleet size ranges from 500 TEUs to 2600 TEUs.
