ATHENS, GREECE, December 19, 2025 - Okeanis Eco Tankers Corp. (the "Company" or
"OET") (NYSE:ECO / OSE:OET), announced today it has entered into two new
facility agreements, for the financing of the recently acquired newbuilding
Suezmax vessels, each under construction at Daehan Shipbuilding Co., Ltd, to be
named Nissos Piperi and Nissos Serifopoula respectively, with expected
deliveries in January 2026.
On December 19, 2025, we entered into a $45.0 million facility agreement, to
finance a portion of the acquisition price of the Nissos Piperi, with a
prominent Greek bank (the "Nissos Piperi Facility"). The Nissos Piperi Facility
contains an interest rate of Term SOFR plus 130 basis points, matures in seven
years, and will be repaid in quarterly installments of $0.525 million, together
with a balloon installment of $30.3 million at maturity. It will be secured by,
among other things, a mortgage over the Nissos Piperi, and it will be guaranteed
by the Company.
On December 19, 2025, we entered into a $45.0 million facility agreement, to
finance a portion of the acquisition price of the Nissos Serifopoula, with
another prominent Greek bank (the "Nissos Serifopoula Facility"). The Nissos
Serifopoula Facility contains an interest rate of Term SOFR plus 130 basis
points, matures in eight years, and will be repaid in quarterly installments of
$0.525 million, together with a balloon installment of $28.2 million at
maturity. It will be secured by, among other things, a mortgage over the Nissos
Serifopoula, and it will be guaranteed by the Company.
Both facility agreements contain standard representations, warranties and
covenants, including financial covenants, and are subject to standard conditions
precedent, such as the delivery of the relevant vessel.
Both transactions are expected to close in January 2026.
Iraklis Sbarounis, CFO of the Company, commented:
"We are pleased to announce the final pieces of the puzzle related to the
acquisition of the two resale newbuilding Suezmaxes, funded by our successful
equity raise in November and now two very competitive bank facilities. We have
structured these transactions to be accretive for the benefit of our
shareholders, without the need to tap into our cash balance, ensuring a
continued focus on our capacity for dividend distributions.
The financings further demonstrate our ability to enhance our capital structure,
supported by the strong Alafouzos family relationships in the Greek banking
market - relationships that we are keen to develop further. The Nissos Piperi
Facility and the Nissos Serifopoula Facility, feature the most competitive
financing terms within our fleet, each priced at 130 basis points over SOFR,
with maturities in 2033 and 2034 respectively, and we expect such financings to
contribute to improved daily debt service breakeven costs.
We are excited to put these vessels to work as soon as they are delivered to us
in the first half of January, and benefit from their expected cashflow
generation."
Contacts
Company:
Iraklis Sbarounis, CFO
Tel: +30 210 480 4200
ir@okeanisecotankers.com
Investor Relations / Media Contact:
Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1540, New York, N.Y. 10169
Tel: +1 (212) 661-7566
okeanisecotankers@capitallink.com
About OET
OET is a leading international tanker company providing seaborne transportation
of crude oil and refined products. The Company was incorporated on April 30,
2018 under the laws of the Republic of the Marshall Islands and is listed on
Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under
the symbol ECO. The sailing fleet consists of six modern scrubber-fitted Suezmax
tankers and eight modern scrubber-fitted VLCC tankers.
Forward-Looking Statements
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under U.S. federal securities laws. Forward-looking statements provide the
Company's current expectations or forecasts of future events. Forward-looking
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similar words or phrases, or the negatives of those words or phrases, may
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necessarily mean that a statement is not forward-looking. Forward-looking
statements are subject to known and unknown risks and uncertainties and are
based on potentially inaccurate assumptions that could cause actual results to
differ materially from those expected or implied by the forward-looking
statements. The Company's actual results could differ materially from those
anticipated in forward-looking statements for many reasons, including as
described in the Company's filings with the U.S. Securities and Exchange
Commission (the "SEC"). Accordingly, you should not unduly rely on these
forward-looking statements, which speak only as of the date of this
communication. Factors that could cause actual results to differ materially
include, but are not limited to, the Company's operating or financial results