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http://fsltrust.listedcompany.com/newsro...2B32.1.pdf
First Ship Lease Trust's latest annual report is out and 2 points can roughly be deduced.
1. In the Chairman's statement, 6 lenders had agreed to the syndicated loan extension. Given that I can see 9 bank's names under its principal bankers, it seems there are 3 lenders who are not in agreement with the loan. With US libor rates now at 2.36%, FSL's loan are costing 5.1% interest.
2. Current loans as of end Mar 2018 is at US $124.9 million. Assuming cash generation ability of US$12mil a quarter, it seems it is going to take FSL until the mid of 2021 to clear all its debts.
First Ship Lease Trust's latest annual report is out and 2 points can roughly be deduced.
1. In the Chairman's statement, 6 lenders had agreed to the syndicated loan extension. Given that I can see 9 bank's names under its principal bankers, it seems there are 3 lenders who are not in agreement with the loan. With US libor rates now at 2.36%, FSL's loan are costing 5.1% interest.
2. Current loans as of end Mar 2018 is at US $124.9 million. Assuming cash generation ability of US$12mil a quarter, it seems it is going to take FSL until the mid of 2021 to clear all its debts.