Hunter Tankers, a subsidiary of Hunter Group, has entered into a USD 15 million revolving credit facility agreement with Apollo Asset.
Following the deal with Apollo Asset, a company owned by Hunter Group ASA’s board member Arne Fredly, the company cancelled the outstanding USD 3 million revolving credit facility.
Hunter Tankers explained that the new facility will carry a total interest rate of 5.00% p.a. all inclusive.
“The facility may be cancelled at any time, by either party, whereupon the outstanding amount will become due and payable.”
The loan would be used to finance the group’s working capital requirements, as well as general corporate purposes.