Danaos Corp unveiled a major loan refinancing with two banks as the container ship owner reported record operating profit even as its investment in Zim hit bottom-line net income.
The New York-listed shipowner said it had reached an agreement in principle with US-based Citi and Greece’s Alpha Bank to refinance a loan facility with nearly $438m outstanding.
The deal will result in a $383m revolving credit facility that sees Citi reduce 20 quarterly payments by almost $11.3m
