Nordic American Tankers ("NAT"), today announced that it has agreed to extend and refinance its current credit facility up to end 2020. The new non amortizing facility is increased from $430 million to $500 million, based on improved terms. The banking group consists of DNB Bank, Nordea and Skandinaviska Enskilda Banken.
Nordic American has a very strong balance sheet compared with other stock listed tankers companies. The high equity gives NAT a continued solid financial footing and flexibility which will strengthen the company for further growth.