Oslo-listed Eitzen says a facility with Skandinaviska Enskilda Banken AB and NIBC Bank, first noted when the overhaul was announced in December, has now been secured.

In a statement to the stock exchange, Eitzen Chemical said it had agreed a $33.3m revolving credit facility and a $66.7m term loan.

They run for five years from the completion of the restructuring, the owner said.