Seanergy Maritime Announces New Sustainability-Linked Loan Facility and Signs the Call to Action for Shipping Decarbonization
October 26 2021 - 9:00AM
Seanergy Maritime Announces New
Sustainability-Linked Loan Facility and Signs the Call to Action
for Shipping Decarbonization
October 26, 2021 - Athens, Greece
- Seanergy Maritime Holdings Corp. (“Seanergy” or the
“Company”) (NASDAQ: SHIP) announced today that it has received a
commitment letter from a leading European bank for a
sustainability-linked loan facility to finance part of the
acquisition cost of the M/V Worldship.
Moreover, Seanergy became a signatory to the
Call to Action for Shipping Decarbonization (“Call to Action”), a
global coalition of over 190 industry leaders and organizations
representing the entire maritime value chain.
Financing of the M/V
Worldship
Pursuant to the commitment letter, the
sustainability-linked loan will be for an amount of $16.85 million
and will amortize over a five-year term with a final balloon
payment of $6.1 million at maturity. The interest rate will be
3.05% plus LIBOR per annum, which can be further improved based on
certain emission reduction thresholds. The approval is subject to
definitive documentation, which we expect to be completed within
November 2021.
Call to Action for Shipping
Decarbonization
The Call to Action was developed by a task force
convened by the Getting To Zero Coalition in September 2021 and
will be delivered to world Governments in November 2021, in advance
of the UN Climate Change Conference (“COP26”) in Glasgow. The
signatories to this Call to Action firmly believe that an equitable
decarbonization of the maritime supply chain by 2050 is both
possible and necessary.
Stamatis Tsantanis, the Company’s
Chairman & Chief Executive Officer, stated:
“We are very pleased to announce another
innovative financing for Seanergy which is consistent both with our
conservative leverage approach, as well as our commitment to our
sustainability objectives. The proceeds of this new loan will
further enhance our strong liquidity position. At the same time, we
are excited to actively participate along with global industry
leaders in the Call to Action, a significant initiative aiming to
contribute to our industry’s decarbonization targets.
Seanergy has long ago prioritized its ESG agenda
and has implemented concrete actions and collaborations upon this
matter. In this context, we are encouraging stakeholder engagement
on all levels, including that of our financiers and governmental
organizations, as means to support the common goal of a “greener”
shipping.”
About Seanergy Maritime Holdings
Corp.
Seanergy Maritime Holdings Corp. is the only
pure-play Capesize ship-owner publicly listed in the US. Seanergy
provides marine dry bulk transportation services through a modern
fleet of Capesize vessels. Upon delivery of the M/V Dukeship, the
Company's operating fleet will consist of 17 Capesize vessels with
an average age of 11.5 years and aggregate cargo carrying capacity
of approximately 3,011,083 dwt.
The Company is incorporated in the Marshall
Islands and has executive offices in Glyfada, Greece. The Company's
common shares trade on the Nasdaq Capital Market under the symbol
“SHIP”, its Class A warrants under “SHIPW” and its Class B warrants
under “SHIPZ”.
Please visit our company website at:
www.seanergymaritime.com.
Forward-Looking Statements
This press release contains forward-looking
statements (as defined in Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended) concerning future events. Words such as "may",
"should", "expects", "intends", "plans", "believes", "anticipates",
"hopes", "estimates" and variations of such words and similar
expressions are intended to identify forward-looking statements.
These statements involve known and unknown risks and are based upon
a number of assumptions and estimates, which are inherently subject
to significant uncertainties and contingencies, many of which are
beyond the control of the Company. Actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially include, but are not limited to, the Company's operating
or financial results; the Company's liquidity, including its
ability to service its indebtedness; competitive factors in the
market in which the Company operates; shipping industry trends,
including charter rates, vessel values and factors affecting vessel
supply and demand; future, pending or recent acquisitions and
dispositions, business strategy, areas of possible expansion or
contraction, and expected capital spending or operating expenses;
risks associated with operations outside the United States; risks
associated with the length and severity of the ongoing novel
coronavirus (COVID-19) outbreak, including its effects on demand
for dry bulk products and the transportation thereof; and other
factors listed from time to time in the Company's filings with the
SEC, including its most recent annual report on Form 20-F. The
Company's filings can be obtained free of charge on the SEC's
website at www.sec.gov. Except to the extent required by law, the
Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
For further information please
contact:
Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: ir@seanergy.gr
Capital Link, Inc.
Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com
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