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Stock impact report

TOP Ships Inc. Announces Interest Rate Swap Agreements

TOP Ships Inc. (TOPS) 
US:NASDAQ Investor Relations: topships.org/investors-relations
Company Research Source: GlobeNewswire
ATHENS, Greece, June 05, 2018 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the “Company”), an international owner and operator of modern, fuel efficient "ECO" tanker vessels focusing on the transportation of petroleum products, announced today that it has entered into an interest rate swap agreement (“IRS”) in order to hedge its exposure to changes in the interest rate of its Alpha Bank facility. Furthermore the Company announced today that its unconsolidated 50% subsidiaries City of Athens Inc (“City of Athens”) and Eco Nine Inc (“Eco Nine”) have entered into two separate IRSs in order to hedge their exposure to changes in the interest rates of their ABN Amro Bank facilities. As a result of these new IRSs both the Company and its unconsolidated 50% subsidiaries have now fully hedged their exposure to fluctuations in interest rates in relation to all post-delivery debt facilities currently outstanding. Details of the IRSs are as follows: Alpha Bank IRS: Under this IRS agreement, the Compan Show less Read more
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