Fairstar signs loan agreement with Fortis Bank

Fairstar Heavy Transport NV (FAIR) has signed a loan agreement with Fortis Bank Nederland for a $15-million, four-year facility secured by a second mortgage over the company’s vessels Fjord and Fjell.

Offshore staff

ROTTERDAM, Netherlands -- Fairstar Heavy Transport NV (FAIR) has signed a loan agreement with Fortis Bank Nederland for a $15-million, four-year facility secured by a second mortgage over the company’s vessels Fjord and Fjell. The proceeds will be used to redeem the company’s outstanding $21-million bond.

10/01/2009

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