Company: ASC
Filing Date: 2025-03-07
Form Type: 20-F
Source: 0001558370-25-002500
Chunk: 187

Company: Ardmore Shipping Corp
Filing Date: 2025-03-07
Form: 20-F
Item: Item 19
Chunk 187
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778)  
  Net total debt                                38,796                 46,026  
  Current portion of long-term debt             —                       6,713  
  Current portion of deferred finance fees      —                      ( 277)  
  Total current portion of long-term debt       —                       6,436  
  Non-current portion of long-term debt         38,796                 39,590  

F-24

Table of Contents

Future minimum scheduled repayments under the Company’s loan facilities for each year are as follows:
As of
December 31
In thousands of U. S. Dollars 2024
2025 - 
2026 1,296
2027 37,500
2028 - 
38,796
Nordea / SEB Revolving Facility
On August 5, 2022,12of Ardmore’s subsidiaries entered into a $185.5million sustainability-linked revolving credit facility with Nordea and SEB (the “ Nordea / SEB Revolving Facility”), the proceeds of which were used to refinance12vessels, includingsixvessels previously financed under lease arrangements. Interest is calculated at a rate ofSOFR plus 2.5%(Adjusted SOFR, equivalent to LIBOR, plus a margin of2.25%). The revolving credit facility may be drawn down or repaid withfive days‘ notice. The revolving credit facility matures in June 2027. As of December 31, 2024, $37.5million of the revolving credit facility was drawn down and $104.4million was available and undrawn.
ABN/CACIB Joint Bank Term Loan and Revolving Credit Facility
On August 5, 2022, sevenof Ardmore’s subsidiaries entered into a $108million sustainability-linked long-term loan facility with ABN AMRO Bank N. V (“ ABN AMRO”) and Credit Agricole Corporate and Investment Bank (“ CACIB”) (the “ ABN/CACIB Joint Bank Facility”), the proceeds of which were used to finance seven vessels, including three vessels financed under lease arrangements. Interest is calculated atSOFR plus 2.5%. Principal repayments on the term loans are made on a quarterly basis, with a balloon payment payable with the final installment.
On June 15, 2023, this credit facility was amended to convert50% of the outstanding balance under the facility into a revolving credit facility with the remaining50% of the outstanding balance, or $49.