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Nordic American Tanker extends $500M credit facility

By Associated Press

April 16, 2008

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Nordic American Tanker Shipping Ltd. said Wednesday that it will extend its $500 million credit facility until September 2013.

Nordic has so far drawn $115 million from the facility, the company said in a statement.

It also said the extension should not affect shareholder dividend payments.

Shipping banks DnB NOR, Nordea and the Danske Bank arranged the facility.

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