Financing ·
KNOT Offshore Partners LP acquired the shuttle tanker Hedda Knutsen for an initial net cost of approximately $24.4…
KNOPKNOT Offshore Partners LP
KNOT Offshore Partners LP acquired the shuttle tanker Hedda Knutsen for an initial net cost of approximately $24.4 million, calculated as a $113.0 million purchase price less $89.4 million in outstanding indebtedness and plus $0.8 million in capitalized fees. The vessel is a 154,000-deadweight ton DP2 Suezmax class tanker built in 2024, operating under a time charter with Petrobras in Brazil that expires in November 2034 with an option for five additional years. Additionally, the company completed the refinancing of $225.8 million in existing term loans into a new $225 million senior secured credit facility backed by five vessels. This new facility carries interest at SOFR plus 1.65% and matures in June 2031 with quarterly installments and an $111.1 million balloon payment, replacing debt previously due in September 2026. KNOT Offshore Partners LP owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea.