Okeanis Eco Tankers Corp. – New Financings Update

Rhea-AI Summary

Okeanis Eco Tankers (NYSE:ECO) announced two $45.0 million financing facilities to fund recently acquired Suezmax newbuilds Nissos Piperi and Nissos Serifopoula with expected deliveries in January 2026.

Both facilities carry an interest rate of Term SOFR +130 bps, are secured by mortgages over the respective vessels and guaranteed by the company. Nissos Piperi matures in seven years with quarterly payments of $0.525M and a $30.3M balloon; Nissos Serifopoula matures in eight years with quarterly payments of $0.525M and a $28.2M balloon. Transactions expected to close in January 2026.

Positive

• Two $45.0M facilities secured for each Suezmax newbuilding
• Financing priced at Term SOFR +130 basis points
• Facilities secured by vessel mortgages and company guarantees
• Expected deliveries and closings in January 2026

Negative

• Large balloon maturities of $30.3M and $28.2M pose refinancing need
• Company guarantee creates additional contingent debt exposure
• Quarterly amortization $0.525M leaves substantial residual debt

Key Figures

Nissos Piperi facility size $45.0 million Secured bank facility for Suezmax Nissos Piperi, signed Dec 19, 2025

Nissos Serifopoula facility size $45.0 million Secured bank facility for Suezmax Nissos Serifopoula, signed Dec 19, 2025

Interest margin Term SOFR + 130 basis points Pricing for both new bank facilities

Quarterly installments $0.525 million Scheduled repayment per quarter under each facility

Nissos Piperi balloon $30.3 million Balloon payment at maturity of Nissos Piperi Facility

Nissos Serifopoula balloon $28.2 million Balloon payment at maturity of Nissos Serifopoula Facility

Nissos Piperi tenor 7 years Maturity profile of Nissos Piperi Facility

Nissos Serifopoula tenor 8 years Maturity profile of Nissos Serifopoula Facility

Market Reality Check

$31.96 Last Close

Volume Volume 281,604 is slightly below the 20-day average of 295,246. normal

Technical Price 34.15 is trading above the 200-day MA of 26.85, while sitting 14.13% below the 52-week high.

Peers on Argus

ECO fell 3.99% while key peers were mixed: GNK -0.27%, SFL -0.39%, NMM -0.5%, but GSL and CCEC rose 1.04% and 3.33% respectively, suggesting a company-specific move rather than a broad sector trend.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 01	Dividend announcement	Positive	-0.8%	Q3 2025 cash dividend with shares trading ex-dividend on US and Oslo.
Nov 21	New shares trading	Negative	+2.0%	New common shares from recent equity offering commence trading on NYSE.
Nov 19	Equity offering pricing	Negative	-6.6%	USD 115M equity offering priced to fund two Suezmax acquisitions.
Nov 19	Trading halt notice	Neutral	-6.6%	Temporary Oslo trading suspension to facilitate bookbuilding for offering.
Nov 12	ESG report release	Positive	+1.7%	Publication of 2024 ESG report prepared under GRI 2021 and SASB.

Pattern Detected

Recent history shows mixed reactions: selloffs around equity funding steps, but positive responses to ESG disclosure and some post-offering trading.

Recent Company History

This announcement follows a concentrated series of capital-markets and corporate actions. In November 2025, ECO priced and issued 3,239,436 new shares at $35.50, raising roughly $115 million to fund two $97 million Suezmax newbuildings. That equity step was preceded by a trading halt and accompanied by prospectus and 6‑K filings. In December 2025, the company also confirmed a $0.75 Q3 dividend. Today’s bank facilities directly connect to those vessel acquisitions, shifting part of the funding mix toward secured debt.

Market Pulse Summary

This announcement details two $45.0 million secured bank facilities at Term SOFR plus 130 basis points to help finance newly acquired Suezmax vessels delivering in January 2026. The loans feature quarterly amortization and sizeable balloon payments, adding structured debt alongside the recent $115 million equity raise. Investors may track vessel delivery timing, chartering performance, and how incremental debt affects daily breakeven levels and the company’s stated priority on ongoing dividend distributions.

Key Terms

term sofr financial

"The Nissos Piperi Facility contains an interest rate of Term SOFR plus 130 basis points"

Term SOFR is a benchmark interest rate that reflects the cost of borrowing money over a specific period, based on actual transactions in the financial markets. It is used by lenders and borrowers to set the interest rates on loans and financial contracts, helping to ensure rates are fair and transparent. For investors, understanding term SOFR helps gauge borrowing costs and the overall direction of interest rates in the economy.

basis points financial

"an interest rate of Term SOFR plus 130 basis points, matures in seven years"

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

mortgage financial

"It will be secured by, among other things, a mortgage over the Nissos Piperi"

A mortgage is a loan used to buy real estate where the property itself serves as collateral: the borrower makes regular payments of principal and interest, and the lender can take the property if payments stop. It matters to investors because mortgage lending, repayment rates, and property values affect banks’ earnings, credit risk, and the performance of real estate and mortgage-backed securities — think of it like a long-term IOU tied to a house.

balloon installment financial

"repaid in quarterly installments of $0.525 million, together with a balloon installment"

A balloon installment is a loan payment structure where regular payments are relatively small and one much larger final payment covers the remaining balance, like making modest monthly payments and then one big lump-sum at the end. For investors, it matters because a large final obligation can affect a company’s cash needs, refinancing risk and valuation—if the firm can’t meet or refinance that lump sum, it may need to sell assets, raise equity, or default.

AI-generated analysis. Not financial advice.

ATHENS, Greece, Dec. 19, 2025 (GLOBE NEWSWIRE) -- Okeanis Eco Tankers Corp. (the “Company” or “OET”) (NYSE:ECO / OSE:OET), announced today it has entered into two new facility agreements, for the financing of the recently acquired newbuilding Suezmax vessels, each under construction at Daehan Shipbuilding Co., Ltd, to be named Nissos Piperi and Nissos Serifopoula respectively, with expected deliveries in January 2026.

On December 19, 2025, we entered into a $45.0 million facility agreement, to finance a portion of the acquisition price of the Nissos Piperi, with a prominent Greek bank (the “Nissos Piperi Facility”). The Nissos Piperi Facility contains an interest rate of Term SOFR plus 130 basis points, matures in seven years, and will be repaid in quarterly installments of $0.525 million, together with a balloon installment of $30.3 million at maturity. It will be secured by, among other things, a mortgage over the Nissos Piperi, and it will be guaranteed by the Company.

On December 19, 2025, we entered into a $45.0 million facility agreement, to finance a portion of the acquisition price of the Nissos Serifopoula, with another prominent Greek bank (the “Nissos Serifopoula Facility”). The Nissos Serifopoula Facility contains an interest rate of Term SOFR plus 130 basis points, matures in eight years, and will be repaid in quarterly installments of $0.525 million, together with a balloon installment of $28.2 million at maturity. It will be secured by, among other things, a mortgage over the Nissos Serifopoula, and it will be guaranteed by the Company.

Both facility agreements contain standard representations, warranties and covenants, including financial covenants, and are subject to standard conditions precedent, such as the delivery of the relevant vessel.

Both transactions are expected to close in January 2026.

Iraklis Sbarounis, CFO of the Company, commented:

“We are pleased to announce the final pieces of the puzzle related to the acquisition of the two resale newbuilding Suezmaxes, funded by our successful equity raise in November and now two very competitive bank facilities. We have structured these transactions to be accretive for the benefit of our shareholders, without the need to tap into our cash balance, ensuring a continued focus on our capacity for dividend distributions.

The financings further demonstrate our ability to enhance our capital structure, supported by the strong Alafouzos family relationships in the Greek banking market – relationships that we are keen to develop further. The Nissos Piperi Facility and the Nissos Serifopoula Facility, feature the most competitive financing terms within our fleet, each priced at 130 basis points over SOFR, with maturities in 2033 and 2034 respectively, and we expect such financings to contribute to improved daily debt service breakeven costs.

We are excited to put these vessels to work as soon as they are delivered to us in the first half of January, and benefit from their expected cashflow generation.”

Contacts

Company:
Iraklis Sbarounis, CFO
Tel: +30 210 480 4200
ir@okeanisecotankers.com

Investor Relations / Media Contact:
Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1540, New York, N.Y. 10169
Tel: +1 (212) 661-7566
okeanisecotankers@capitallink.com

About OET

OET is a leading international tanker company providing seaborne transportation of crude oil and refined products. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under the symbol ECO. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers.

Forward-Looking Statements

This communication contains “forward-looking statements”, including as defined under U.S. federal securities laws. Forward-looking statements provide the Company’s current expectations or forecasts of future events. Forward-looking statements include statements about the Company’s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present facts or conditions. Words or phrases such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “hope,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will” or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The Company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons, including as described in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, you should not unduly rely on these forward-looking statements, which speak only as of the date of this communication. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations; broader market impacts arising from war (or threatened war) or international hostilities; risks associated with pandemics, including effects on demand for oil and other products transported by tankers and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based. You should, however, review the factors and risks the Company describes in the reports it files and furnishes from time to time with the SEC, which can be obtained free of charge on the SEC’s website at www.sec.gov.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

FAQ

What financing did Okeanis Eco Tankers (ECO) announce on December 19, 2025?

Okeanis announced two $45.0M facility agreements to finance the Suezmax newbuilds Nissos Piperi and Nissos Serifopoula.

What are the interest rates and maturities for ECO's new financings?

Both facilities are priced at Term SOFR +130 bps; Nissos Piperi matures in seven years and Nissos Serifopoula in eight years.

How will the new ECO facilities be repaid and what are the balloon amounts?

Each will have quarterly installments of $0.525M; balloons are $30.3M (Piperi) and $28.2M (Serifopoula).

When are the Nissos Piperi and Nissos Serifopoula expected to be delivered to ECO?

Both vessels have expected deliveries in January 2026 and the transactions are expected to close in January 2026.

Do the new ECO facilities require collateral or guarantees?

Yes; each facility is secured by a mortgage over the respective vessel and guaranteed by the company.

How do these financings affect ECO's shareholder cash strategy?

Company says the financings were structured to be accretive and avoid tapping cash balances, supporting dividend focus.