Exmar has fully taken care of some outstanding debt by, well, taking out more debt.
The Brussels-listed tanker owner has fully repaid an outstanding senior unsecured bond, issued in 2014, extended in July 2017 and maturing next month.
The repayment has been funded by a new, unsecured 650 million NOK ($75m) bond issued by Exmar on 16 May, set to mature in May 2022, and the company's own funds.
Per the Belgian company's first quarter earnings report, approximately $121.4m is outstanding on the bonds.
It reported an $11.4m loss for the first three months of 2019, with the company citing a weak market for its VLGCs.
