NAT - Nordic American Tankers secures financing for two Suezmax newbuildings

Nordic American Tanker (NAT) entered into a financing agreement with Ocean Yield subsidiary for the two Suezmax newbuilding contracts with Samsung Heavy Industries that it had announced earlier.Vessels are due for deliver in 1H22.Financing is for up to 80% of the newbuilding price. Agreements are based on a 10-year bareboat charter for each vessel; NAT has certain options to buy or sell the vessels during the charter period.NAT targets to become a debt-free company.Shares -0.27% PM

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Nordic American Tankers secures financing for two Suezmax newbuildings