FSL to fork out US$20m cash for loan pre-payment

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.