Company: TEN-PE
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001193125-25-225057
Chunk: 40

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-09-30
Form: 6-K
Chunk 40
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 the vessels. Also, the covenants require the Company to maintain a minimum liquidit y, not legally restricted, of $ 88,772at June 30, 2025 and $ 80,905at December 31, 2024, a minimum consolidated leverage ratio, a minimum hull value in connection with the vessels’ outstanding loans and insurance coverage of the vessels against all customary risks. One loan agreement requires a monthly pro rata transfer to retention account of any principal due but unpaid. Two loan agreements require the Company to maintain throughout the security period, an aggregate balance in a deposit account of $ 3,050, not legally restricted.

As of June 30, 2025, the Company and its wholly and majority owned subsidiaries had thirty-threeloan agreements, with an aggregate principal amount outstanding thereunder totaling $ 1,683,624. The Company fulfilled its requirements in respect of the financial covenants of all of its loan agreements as at June 30, 2025. The Company ’s liquidity requirements relate primarily to servicing its debt, funding the equity portion of investments in vessels and funding expected capital expenditure on dry-dockings and working capital.

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TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) JUNE 30, 2025 AND 2024 (Expressed in thousands of U.S. Dollars, except for share and per share data, unless otherwise stated)

The annual principal payments, including balloon payments on loan maturity, required to be made after June 30, 2025, are as follows:

Long-term debt - Principal Payments (Table)

| Period/ Year          |     |   |    Amount |
|:----------------------|:----|:--|----------:|
| July to December 2025 |     | $ |   117,036 |
| 2026                  |     |   |   265,277 |
| 2027                  |     |   |   395,615 |
| 2028                  |     |   |   251,316 |
| 2029                  |     |   |   285,395 |
| 2030 and thereafter   |     |   |   368,985 |
|                       |     | $ | 1,683,624 |

Other financial liabilities, net

The amounts in the accompanying consolidated balance sheets are