Euro banks seal Singapore shipping deal
Singapore ship operator Greenship Bulk has won a US$72mn post-delivery facility from Nordea Bank Finland and Nordbank to finance the acquisition of four bulk carriers.
Nordbank and Nordea Bank acted as mandated lead arrangers on the transaction, while Nordea Bank also acted as facility agent and security trustee.
Watson, Farley & Williams’ (WFW) Asia practice in Singapore advised the banks on the loan transaction.
The loan proceeds will be used to finance part of the acquisition for 63,200 deadweight tonnage bulk carriers, which are under construction at Yangzhou Dayang Shipbuilding.
The vessels are commercially managed by French shipping services firm Setaf Saget, and the facility is guaranteed by, amongst others, Jaccar Holdings, WFW says in a statement.
WFW Partner Simon Simon Petch says: “It is a great pleasure for us to have been able to assist such reputable parties with a new deal like this in these challenging times.”