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THE trustee-manager of First Ship Lease (FSL) Trust said after Tuesday trading close, the trust will pre-pay US$20 million of the principal amount under its syndicated loan facility.
The trustee-manager said the loan prepayment will draw from the trust's available cash. In addition, the shipping trust will pledge a 2007-Japanese built medium range product tanker, FSL Osaka, that was acquired in 2015 to the lenders.