Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), (Pyxis Tankers), a growth-oriented, pure play product tanker company, on Thursday (Jul09) announced that it had successfully completed the refinancing of a previous loan facility for the Pyxis Theta. 

Pyxis Tankers Inc. Announces Refinancing of Modern Product Tanker
Caption: Chemical/Oil Products Tanker Pyxis Theta - Image courtesy of RuudCoster

After repayment of existing bank debt, the new 5 year secured loan will provide us $4.1 million of additional net proceeds for working capital purposes.

Valentios Valentis, our Chairman and CEO commented: “We welcome a new lender to our company, Alpha Bank, which provided us $15.25 million of new secured debt, priced at Libor + 3.35%. Our required scheduled loan amortization remains roughly the same but lengthens our debt maturities. We do not have any senior loan maturities until February, 2023. Our consolidated leverage continues to be comparable to many of our publicly-traded peers.”

Source: Pyxis