http://www.marine-money.com The Ship Finance Publication Of Record Mon, 16 Jan 2012 04:04:51 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://www.marine-money.com/archive/resurrected-%e2%80%93-tbs-deleverages http://www.marine-money.com/archive/resurrected-%e2%80%93-tbs-deleverages#comments Thu, 22 Dec 2011 19:04:31 +0000 carisk http://www.marine-money.com/?p=11483 http://www.marine-money.com/archive/resurrected-%e2%80%93-tbs-deleverages/feed 0 http://www.marine-money.com/archive/at-last http://www.marine-money.com/archive/at-last#comments Thu, 13 May 2010 14:00:44 +0000 marinemoney http://www.marine-money.com/?p=9331 http://www.marine-money.com/archive/at-last/feed 0 http://www.marine-money.com/archive/pricing-may-no-longer-be-an-issue http://www.marine-money.com/archive/pricing-may-no-longer-be-an-issue#comments Thu, 01 Apr 2010 20:05:44 +0000 carisk http://marine-money.com/?p=8786 http://www.marine-money.com/archive/pricing-may-no-longer-be-an-issue/feed 0 http://www.marine-money.com/archive/we-have-not-yet-gotten-past-restructurings http://www.marine-money.com/archive/we-have-not-yet-gotten-past-restructurings#comments Thu, 28 Jan 2010 17:51:19 +0000 carisk http://marine-money.com/?p=8565 http://www.marine-money.com/archive/we-have-not-yet-gotten-past-restructurings/feed 0 http://www.marine-money.com/archive/whither-the-banks http://www.marine-money.com/archive/whither-the-banks#comments Thu, 22 Oct 2009 16:23:56 +0000 carisk http://marine-money.com/?p=6399 http://www.marine-money.com/archive/whither-the-banks/feed 0 http://www.marine-money.com/archive/on-the-road-again http://www.marine-money.com/archive/on-the-road-again#comments Thu, 15 Oct 2009 16:11:08 +0000 carisk http://marine-money.com/?p=6392 Navios Maritime Holdings (“Navios”) announced that it and, its wholly-owned finance subsidiary, Navios Maritime Finance (US) Inc. intend to offer, through a 144A private placement, $375 million of first priority ship mortgage notes due in 2017, subject to market conditions. This marks Navios’ second entry into the high yield market having issued previously 9 1/2% Senior Notes due in 2014 in December 2006. The new notes will in fact be guaranteed by all of the subsidiaries that guarantee the existing notes, so, in fact, the new notes will be secured by first mortgages on 15 drybulk vessels]]> http://www.marine-money.com/archive/on-the-road-again/feed 0 http://www.marine-money.com/archive/fixing-debt http://www.marine-money.com/archive/fixing-debt#comments Thu, 09 Jul 2009 19:39:41 +0000 carisk http://marine-money.com/?p=6100 Commercial Barge Line Company (“CBL”), a direct wholly owned subsidiary of American Commercial Lines Inc. (“ACL”) announced the private placement and pricing of its $200 million 12 1/2% senior secured second lien notes due July 15, 2017. The notes were issued at a price of 95.181% yielding 13.13%. Concurrent with this offering, CBL and ACL will close on a new four-year $350 million senior secured first lien asset-based revolving credit facility. The proceeds of the notes and the credit facility will be used to repay ACL’s existing credit facility, to pay certain related transaction costs and]]> http://www.marine-money.com/archive/fixing-debt/feed 0 http://www.marine-money.com/archive/for-the-right-credit-anything-is-possible http://www.marine-money.com/archive/for-the-right-credit-anything-is-possible#comments Thu, 23 Apr 2009 18:16:13 +0000 carisk http://marine-money.com/?p=5412 Euronav announced this week that it has signed a $300 million senior secured facility with Nordea, Calyon, Societe Generale, Bank of America and Scotiabank acting as lead arrangers; Nordea, Calyon and Societe Generale acting as bookrunners and Nordea as sole facility agent. Skandinaviska Enskilda Banken, Dexia Bank, Fortis Bank Belgium and Ethias acting as co-arrangers. The credit facility will finance two VLCCs: the Olympia (2008 – 315,981) and the Antarctica (2009 – 315,981 dwt) and four Suezmaxes: the Cap Felix (2008 – 158,764 dwt) and the Cap Theodora (2008 – 158,800 dwt) and two newbuilding Suezmaxes: hull 1743, to be]]> http://www.marine-money.com/archive/for-the-right-credit-anything-is-possible/feed 0 http://www.marine-money.com/archive/managing-expectations http://www.marine-money.com/archive/managing-expectations#comments Thu, 02 Apr 2009 15:24:46 +0000 carisk http://marine-money.com/?p=5349 TBS announced it had secured waivers of certain covenants with respect to its outstanding credit facilities with its syndicate of lenders led by Bank of America, its syndicate of lenders led by The Royal Bank of Scotland and its syndicate of lenders led by DVB Group Merchant Bank, as well as its loan agreements with AIG Commercial Equipment, Commerzbank AG, Berenberg Bank and Credit Suisse (the " Financing Facilities "). The company initiated discussions with its lenders to obtain waivers as a result of the current market conditions with a specific focus on the market value of vessels. The Financing Facilities were modified to provide a waiver through December 31, 2009 of loan-to-value and other financial covenants, provided that the company satisfies new covenants, including minimum]]> http://www.marine-money.com/archive/managing-expectations/feed 0 http://www.marine-money.com/archive/bank-of-america-has-high-hopes-for-dwt http://www.marine-money.com/archive/bank-of-america-has-high-hopes-for-dwt#comments Thu, 31 Jul 2008 13:49:02 +0000 carisk http://marine-money.com/?p=3476 http://www.marine-money.com/archive/bank-of-america-has-high-hopes-for-dwt/feed 0