KNOT Offshore subsidiary plans $100 million senior secured term loan

By Tali Rackner

Minneapolis, Nov. 9 – KNOT Offshore Partners LP subsidiary KNOT Shuttle Tankers 15 AS entered into a term sheet for a new $100 million senior secured term loan facility. according to a press release.

MUFG is the agent.

The facility is expected to mature in 2023 and bear interest at a rate of Libor plus 210 basis points.

The facility would refinance an existing $74.4 million loan facility that is due to be paid in full in November 2018.

Closing is anticipated to occur by the end of 2017.

KNOT Offshore is an Aberdeen, Scotland-based shuttle tanker operator. KNOT Shuttle Tankers 15 owns the vessel Torill Knutsen.

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