OSLO, Norway, April 25, 2019 /PRNewswire/ -- MPC Container Ships ASA (the "Company", together with its subsidiaries the "Group") is pleased to announce that it has entered into a USD 40 million three-year revolving credit facility agreement with CIT Group at attractive terms. Drawdowns under the facility may be used toward investments, vessel upgrades or general corporate purposes.
CEO Constantin Baack comments in relation to the announcement: "We are very satisfied with the cooperation demonstrated by CIT's Maritime Finance team and their support in further positioning MPC Container Ships as a leading tonnage provider within the feeder container space. With the new credit facility, we add a highly flexible instrument to our capital structure whilst adhering to the company's strategy of moderate leverage. Moreover, the facility ensures additional financial strength for MPC Container Ships in anticipation of improved market conditions."
The above information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About MPC Container Ships ASA:
MPC Container Ships ASA (ticker code "MPCC") was formed in April 2017. Its main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The Company is registered and has its business office in Oslo, Norway. For more information, please see our webpage: www.mpc-container.com
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SOURCE MPC Container Ships ASA