NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Okeanis Eco Tankers Corp. (OSE: OET-ME) (“Company”) today announced that the Company has entered into a USD 56 million sale and 13-year bareboat charter arrangement with Ocean Yield ASA (“Ocean Yield”) for the Milos (“Milos Refinancing”). The sale price includes a seller’s credit of USD 7 million, resulting in net sale proceeds of USD 49 million to the Company.
The Milos Refinancing will generate approximately USD 18 million of free cash to the Company once the vessel delivers to Ocean Yield in Q1 2019 and a portion of the net sale proceeds are used to repay approximately USD 31 million of existing debt. The Company will have certain options to acquire the vessel during the charter period.

For further information, please contact:

John Papaioannou
Chief Financial Officer
Okeanis Eco Tankers Corp.
Email: jvp@okeanisecotankers.com
Direct: +30 210 4804099

 

Important information:
This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction.
The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “US Securities Act”). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the
US Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States.
Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assumes any responsibility in the event there is a violation by any person of such restrictions.

Forward-looking statements:
This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these
forward-looking statements.