Successfully Financed And In Search For More

Thailand based Regional Container Lines (“RCL Group”)’s wholly owned subsidiary in Singapore, RCL Feeder Pte Ltd, has secured a term loan of up to USD 35 million from Overseas Chinese Banking Corporation (“OCBC”) on August 21, 2009. The tenor of the loan will expire 3 years from the drawdown or October 31, 2012 at the latest, and the quantum should not exceed 50% of the market value of the RCL office building in Singapore. Proceeds will be used for working capital.

In a similar transaction concluded on 23 June 2009, another RCL wholly-owned subsidiary in Singapore, Regional Container Lines Pte Ltd, signed a loan facility agreement with DnB NOR Bank ASA, Singapore branch for up to USD 17.5 million or an amount not more than 55% of the combined market value of the vessels under the collateral pool. The loan has a tenor of 5 years from the drawdown and the proceeds will be used to refinance an existing loan.

This is only an excerpt of Successfully Financed And In Search For More

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login
Username
Password

Related Archive Files

• No Related Post