Limassol 06.03.2026
Pelagic Credit plc (the "Company") is pleased to announce completion of the
acquisition of the offshore support vessel "Nautical Singapore" for a net
purchase price of US$ 24.8 million. Upon delivery, the vessel has entered into a
five-year bareboat charter with BCN Two Pte. Ltd., sponsored by Bertling Group.
The bareboat charter contract features a floating-rate interest component and
adds an estimated bareboat charter backlog (gross firm charter hire) of US$
28.2m, assuming current SOFR swap rates.
The acquisition was completed in line with the Company's strategy to acquire a
modern and diverse fleet and to place assets on long-term charter with reputable
and well-established counterparties in the industry. The transaction was funded
through a combination of floating-rate debt and equity.
This transaction forms part of the indicative pipeline previously communicated
in connection with the Company's private placement of new shares in advance of
the listing on Euronext Growth Oslo, and demonstrates the management team's
ability to originate and execute on identified opportunities.
For further information, please contact:
C. Tobias Backer,
Chief Executive Officer
tobias@pelagic-credit.com
+357 97 771 170 / +44 7799 815 020 / +1 917 207-8680