Tuesday October 27, 2020

Ardmore Shipping secures $364m debt deal

Improves company’s surplus cash flow by around $6 million

Barry J Whyte

Chief Feature Writer

@whytebarry
17th January, 2016
The company’s share price had traded at a peak of $14.79 last year, but has since slumped to below $9

Ardmore Shipping, the Irish container group of which Anthony Gurnee is chief executive, has secured a $364 million (€332 million) debt refinancing deal with a syndicate of international lenders.

A facility worth $213 million came from Dutch and German banks ABN AMRO and DVB Bank – which includes a commitment of $20 million to fund future acquisitions – as well as a second loan facility worth $151 million from Nordea Bank and Skandinaviska Enskilda Banken.

According to the company,...

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