2023-04-27 03:05:06 ET
- Ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, Imperial Petroleum ( NASDAQ: IMPP ) recently repaid early and in full its sole remaining loan with a $16M outstanding balance from Alpha Bank.
- This loan was secured with first priority mortgages on product tankers Clean Nirvana and Clean Justice.
- Following the recent early repayment of all outstanding debt – ~$69M in total, the company’s fleet of twelve vessels is now completely unencumbered.
- The repayment of all indebtedness will save ~$10.3M per annum in principal loan repayments and about $5M per annum in finance costs basis current level of LIBOR rates.
- Stock up 0.80% late hours on Wednesday.
For further details see:
Imperial Petroleum repays ~16M loan, goes debt-free