Toro Corp., an energy shipping company affiliated with Petros Panagiotidis, announced the signing of a new 60-million-euro revolving credit facility (RCF) with a leading European financial institution, further strengthening its financial flexibility.
The new five-year financing will be secured, among other things, by first-priority mortgages on four of the company’s vessels. The net proceeds from the facility are expected to be used for general corporate purposes. Toro Corp. operates internationally in the energy transportation sector with a modern fleet of oceangoing vessels.
Its fleet includes two LPG carriers and one MR tanker, transporting petrochemical gases and refined petroleum products worldwide. The new agreement is considered a significant step in supporting the company’s operational and growth strategy.
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