Danaos completes refinancing plan

Danaos completes refinancing plan    The Greek containership leasing company Danaos said it had completed a comprehensive financing plan which will fund a newbuilding program for 13 ships with aggregate capacity for 129,250 TEUs.
   The plan provides for new financing of $818 million, including $203 million from a consortium led by the Export-Import Bank of China, $190 million of vendor finance, and $425 million from a consortium comprised of 14 existing bank lenders.
   The company said “repayment schedules, interest rate margin and covenants have been reset and harmonized with this new structure and provide a competitive and solid financing package until end of 2018.”
   John Coustas, Danaos' chief executive officer, said the company “is now back on track to continue with its growth strategy.”
      Danaos' current fleet of 52 containerships has an aggregate capacity of 233,429 TEUs.