DHT Holdings, Inc. announces financing for four VLCC newbuildings
HAMILTON, BERMUDA, May 21, 2014 – DHT Holdings, Inc. (NYSE:DHT) (“DHT” or the “Company”) today announced that it has entered into firm commitments for the debt financing of four of its newbuildings ordered at Hyundai Heavy Industries. The financing equals about 50% of the contract prices with an average margin above Libor of 2.5%. Assuming a Libor of 0.25% the average total debt service (interest and installments) per vessel per day is estimated to about $11,100 in the first year after drawdown. The financing commitments are subject to final documentation.
Senior Management of DHT says: “DHT is experiencing strong interest and support from the ship lending community. The banks appreciate our focus on moderate leverage and cash break-even levels and have responded with competitive pricing and terms. Through these facilities, we are very pleased to have expanded our banking universe by adding ABN Amro, Nordea and Danish Ship Finance to our group of relationship banks.”
About DHT Holdings, Inc.
DHT is an independent crude oil tanker company. Our fleet trades internationally and consists of crude oil tankers in the VLCC, Suezmax and Aframax segments. We operate through our wholly owned management companies in Oslo, Norway and Singapore. You shall recognize us by our business approach with an experienced organization with focus on first rate operations and customer service, quality ships built at quality shipyards, prudent capital structure with robust cash break even levels to accommodate staying power through the business cycles, a combination of market exposure and fixed income contracts for our fleet and a transparent corporate structure maintaining a high level of integrity and good governance. For further information: www.dhtankers.com.
Forward Looking Statements
This press release contains assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil prices and seasonal fluctuations in vessel supply and demand. When used in this document, words such as “believe,” “intend,” “anticipate,” “estimate,” “project,” “forecast,” “plan,” “potential,” “will,” “may,” “should” and “expect” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company’s current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company’s estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission on April 29, 2013.
The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company’s actual results could differ materially from those anticipated in these forward-looking statements.
Eirik Ubøe, CFO
Phone: +1 441 299 4912 and +47 412 92 712