Latsis family company Latsco has upsized a loan with ING Bank to finance the purchase of new medium range tankers.
Privately-owned Latsco, backed by Paris Kassidokostas-Latsis, first inked a $131m loan with ING back in 2015 for a series of five product tankers.
This has now been upsized by $87m to back four more eco tankers, according to Watson Farley & Williams.
The law company worked with the bank, which it says is a long-term client, to arrange both the original facility and the new tranche of cash.
WFW says the last of the vessels covered by the loan was delivered to the Greek shipowner in May this year.
WFW partner George Macheras explains the high-profile transaction marks the first collaboration between ING and Latsco, two significant players in their respective areas.
VesselsValue lists Latsco with a fleet of 29 tankers and gas carriers in the water worth a combined $1.114bn.
