D’Amico Secures Refinance

Gas tanks at a port
Updated Published

An $82 million sustainability-linked loan for four of the company's tankers has been signed by d'Amico Tankers, a division of the Italian shipping firm d'Amico International Shipping (DIS).

To refinance the bank loans due in 2023 on the MT Cielo di Cagliari, MT Cielo Rosso, MT Cielo di Rotterdam, and MT Cielo di New York, a five-year term facility was signed with ING and Skandinaviska Enskilda Banken (SEB).

According to the company, all four of the new facility's tranches are anticipated to be used, with the associated prior financings being reimbursed, this month.

“I am glad to announce that DIS has refinanced the loans maturing in 2023, with their related balloons, on four of its owned vessels, with d’Amico Tankers achieving some of its best financing terms ever. This new facility is also a ‘sustainability-linked loan’,” said Chairman and Chief Executive Officer of d’Amico International Shipping Paolo d’Amico.​​

"ING is extremely delighted to act as sustainability coordinator for d'Amico and arrange their sustainability-linked loan in compliance with the Poseidon Principles," said ING Global Head of Shipping Stephen Fewster.