Oxygen – Lease Financing


May 21, 2015

Technical management and operation of the vessel
A Sale & Lease back Project: a product tanker basis Lease Financing with 10% Charterer (Lessee – Oxygen) down payment.
Vessel built Korea 2013
Purchase Price (Investor) : $39 mil
Down Payment (Oxygen) : $3,9 mil
Term : 10 years
Leasing Rate : 5%
Lease Principal at the start : $35,1 mil – vessel age 2 years old
Lease Principal at the end : $12,3 mil – vessel age 12 years old
An interesting deal in light of current new-building pricing for LR1 at $46 mil .
Lease scheme. The vessel is purchased by the Lessor (Investor) and leased under a Bareboat Charter to the Lessee (O2 Trading is an entity which is the Operations arms of the Oxygen Group). As per industry practice the vessel is purchased under an SPV (Owner – proposed to be Marshall Islands) and the Lessee (Charterer) is responsible for the technical management and operation of the vessel.
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