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	<title>Marine Money Archives &#187; BNP Paribas</title>
	<atom:link href="http://www.marine-money.com/archive/tag/bnp-paribas/feed" rel="self" type="application/rss+xml" />
	<link>http://www.marine-money.com</link>
	<description>The Ship Finance Publication Of Record</description>
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		<title>NEXI steps up support for Japanese shipbuilders</title>
		<link>http://www.marine-money.com/archive/nexi-steps-up-support-for-japanese-shipbuilders</link>
		<comments>http://www.marine-money.com/archive/nexi-steps-up-support-for-japanese-shipbuilders#comments</comments>
		<pubDate>Thu, 06 Oct 2011 08:31:43 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[Commentary]]></category>
		<category><![CDATA[Export Credit]]></category>
		<category><![CDATA[Adani Enterprises]]></category>
		<category><![CDATA[Bank of Tokyo-Mitsubishi UFJ]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[Hanjin Shipping]]></category>
		<category><![CDATA[Japan Bank for International Cooperation]]></category>
		<category><![CDATA[K-Sure]]></category>
		<category><![CDATA[Kanagawa Dockyard]]></category>
		<category><![CDATA[Korea Development Bank]]></category>
		<category><![CDATA[Korea Trade Insurance Corporation]]></category>
		<category><![CDATA[Mitsubishi Heavy Industries]]></category>
		<category><![CDATA[Mundra Port & Special Economic Zone Limited]]></category>
		<category><![CDATA[Nippon Export and Investment Insurance]]></category>
		<category><![CDATA[Sumitomo Mitsui Banking Corporation]]></category>
		<category><![CDATA[Tsuneishi Shipbuilding]]></category>
		<category><![CDATA[Wallenius Lines]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10557</guid>
		<description><![CDATA[It has been a busy September for Nippon Export and Investment Insurance (“NEXI”), having participated in two ship export transactions. In the first transaction, a group of lenders, comprising Japan Bank for International Cooperation (“JBIC”), Sumitomo Mitsui Banking Corporation and BNP Paribas Tokyo Branch, have agreed to extend loans of JPY 9.4 billion (USD 122.6 [...]]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/nexi-steps-up-support-for-japanese-shipbuilders/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>STX Pan Ocean Closes USD 510 million Syndication</title>
		<link>http://www.marine-money.com/archive/stx-pan-ocean-closes-usd-510-million-syndication</link>
		<comments>http://www.marine-money.com/archive/stx-pan-ocean-closes-usd-510-million-syndication#comments</comments>
		<pubDate>Thu, 22 Sep 2011 07:16:22 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[ABN AMRO]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[China Development Bank]]></category>
		<category><![CDATA[Credit Industrial et Commercial]]></category>
		<category><![CDATA[Deutsche Schiffsbank]]></category>
		<category><![CDATA[DnB NOR Bank]]></category>
		<category><![CDATA[Export-Import Bank of Korea]]></category>
		<category><![CDATA[Fibria Celulose]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[Standard Chartered]]></category>
		<category><![CDATA[STX Pan Ocean]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10599</guid>
		<description><![CDATA[South Korea’s STX Pan Ocean has secured a USD 510 million 12 year syndicated loan facility with a consortium of nine domestic and international lenders, comprising ABN AMRO, BNP Paribas, China Development Bank, Credit Industrial et Commercial, Deutsche Schiffsbank, DnB NOR Bank, Export-Import Bank of Korea, ING and Standard Chartered. In October 2010, the company [...]]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/stx-pan-ocean-closes-usd-510-million-syndication/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>COSCO Corp Suffers Analyst Downgrades</title>
		<link>http://www.marine-money.com/archive/cosco-corp-suffers-analyst-downgrades</link>
		<comments>http://www.marine-money.com/archive/cosco-corp-suffers-analyst-downgrades#comments</comments>
		<pubDate>Fri, 12 Aug 2011 04:00:23 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Company News]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[CIMB]]></category>
		<category><![CDATA[COSCO Corporation]]></category>
		<category><![CDATA[DBS]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10692</guid>
		<description><![CDATA[Last week, Singapore listed COSCO Corporation suffered multiple analyst downgrades from major securities houses. Analysts were largely disappointed by the weak 2Q11 net earnings and flagged concerns over demand, risk of order cancellations and delivery delays. BNP Paribas Brenda Lee pointed out that even though turnover in 2Q11 was up 3% year-over-year but net profit [...]]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/cosco-corp-suffers-analyst-downgrades/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Plop-plop, Fizz-fizz, Oh What a Relief It Is” – TORM Extends</title>
		<link>http://www.marine-money.com/archive/plop-plop-fizz-fizz-oh-what-a-relief-it-is%e2%80%9d-%e2%80%93-torm-extends</link>
		<comments>http://www.marine-money.com/archive/plop-plop-fizz-fizz-oh-what-a-relief-it-is%e2%80%9d-%e2%80%93-torm-extends#comments</comments>
		<pubDate>Thu, 30 Jun 2011 15:01:59 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[Danske Bank]]></category>
		<category><![CDATA[HSH Nordbank]]></category>
		<category><![CDATA[SEB]]></category>
		<category><![CDATA[Torm]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10469</guid>
		<description><![CDATA[On Wednesday, TORM was able to announce an actual, as opposed to rumored, refinancing of its $900 million revolving credit facility with Danske Bank, BNP Paribas, HSH Nordbank, and SEB which was scheduled to mature in 2013 with a bullet payment of $630 million. Conditioned upon a cash equity raise of $100 million, likely a rights issue, to be completed by December 15th, the banks have agreed to extend the maturity to 2015, when it matures with a bullet payment of $480 million. The difference in the balloon payments of $150 million will be amortized during that two year period. The facility will retain the current covenant package and will include a market value test applicable from 2013 as well as dividend restrictions.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/plop-plop-fizz-fizz-oh-what-a-relief-it-is%e2%80%9d-%e2%80%93-torm-extends/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>CMA CGM Replicates Hapag-Lloyd Bond Model</title>
		<link>http://www.marine-money.com/archive/cma-cgm-replicates-hapag-lloyd-bond-model</link>
		<comments>http://www.marine-money.com/archive/cma-cgm-replicates-hapag-lloyd-bond-model#comments</comments>
		<pubDate>Thu, 21 Apr 2011 16:31:31 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[Deutsche Bank]]></category>
		<category><![CDATA[Natixis]]></category>
		<category><![CDATA[Saade]]></category>
		<category><![CDATA[Societe Generale]]></category>
		<category><![CDATA[Yildrim Holding]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10380</guid>
		<description><![CDATA[Last week, CMA CGM S.A. successfully offered through a private placement, a $909 million equivalent dual tranche senior note issue, which, in many respects, closely resembled structurally last year’s Hapag-Lloyd bond issue led by Deutsche Bank. The offering consisted of a $475 million 8.5% tranche due in 2017 and a EUR 325 million 8.875% tranche due in 2019. Proceeds of the offering will be used to refinance the company’s existing Euro and Dollar denominated bonds and for general corporate purposes.]]></description>
		<wfw:commentRss>http://www.marine-money.com/archive/cma-cgm-replicates-hapag-lloyd-bond-model/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Golar Partners Prices While Parent fills Warehouse?</title>
		<link>http://www.marine-money.com/archive/golar-partners-prices-while-parent-fills-warehouse</link>
		<comments>http://www.marine-money.com/archive/golar-partners-prices-while-parent-fills-warehouse#comments</comments>
		<pubDate>Thu, 14 Apr 2011 16:44:33 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[BofA Merrill Lynch]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[DnB NOR]]></category>
		<category><![CDATA[Evercore]]></category>
		<category><![CDATA[Golar LNG Limited]]></category>
		<category><![CDATA[Golar LNG Partners LP]]></category>
		<category><![CDATA[Morgan Stanley]]></category>
		<category><![CDATA[Raymond James]]></category>
		<category><![CDATA[RBC]]></category>
		<category><![CDATA[Wells Fargo]]></category>
		<category><![CDATA[World Shipholding]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10394</guid>
		<description><![CDATA[Was it a vote for shipping, for the MLP structure, or Mr. Fredriksen? At the end of the day, it does not matter as the first shipping IPO of 2011 met with strong demand and priced above its range. Last week, Golar LNG Partners LP (“GMLP”) priced its initial public offering of 12 million shares at $22.50, above the stated range of $20 to $22 per share. Total gross proceed were $270 million, which could increase to $310.5 million if the green shoe is exercised in full. The limited partners own a 30.1% interest in the company with Golar LNG Limited owning the 2% GP interest as well as a 67.9% limited partner interest.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Seeing the Light – Golar LNG Learns From a Competitor</title>
		<link>http://www.marine-money.com/archive/seeing-the-light-%e2%80%93-golar-lng-learns-from-a-competitor</link>
		<comments>http://www.marine-money.com/archive/seeing-the-light-%e2%80%93-golar-lng-learns-from-a-competitor#comments</comments>
		<pubDate>Thu, 07 Apr 2011 15:26:03 +0000</pubDate>
		<dc:creator>marinemoney</dc:creator>
				<category><![CDATA[Freshly Minted]]></category>
		<category><![CDATA[The Week in Review]]></category>
		<category><![CDATA[BG Group]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[BofA Merrill Lynch]]></category>
		<category><![CDATA[Citi]]></category>
		<category><![CDATA[DnB NOR Markets]]></category>
		<category><![CDATA[Evercore Partners]]></category>
		<category><![CDATA[Golar LNG Energy Limited]]></category>
		<category><![CDATA[Golar LNG Limited]]></category>
		<category><![CDATA[Golar LNG Partners LP]]></category>
		<category><![CDATA[John Fredriksen]]></category>
		<category><![CDATA[Morgan Stanley]]></category>
		<category><![CDATA[Petrobras]]></category>
		<category><![CDATA[PT Pertamina]]></category>
		<category><![CDATA[Raymond James]]></category>
		<category><![CDATA[RBC Capital Markets]]></category>
		<category><![CDATA[Tor Olav Troim]]></category>
		<category><![CDATA[Wells Fargo Securities]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10246</guid>
		<description><![CDATA[The MLP model is best suited for assets such as FSRUs and LNG carriers that have stable cash flows due to long-term contracts.   The common units of the limited partnerships trade on yield and expected growth. Given the low interest rate environment and high demand for yield paper, the MLPs are trading at high EBITDA multiples and premiums to underlying asset value. The valuation premium gives MLPs a lower cost of capital making it an efficient way to grow and access capital.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Tapping Export Finance &#8211; The Danish Way</title>
		<link>http://www.marine-money.com/archive/tapping-export-finance-the-danish-way</link>
		<comments>http://www.marine-money.com/archive/tapping-export-finance-the-danish-way#comments</comments>
		<pubDate>Fri, 25 Mar 2011 03:08:46 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[Export Credit]]></category>
		<category><![CDATA[Bank of China]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[Export Credit & Insurance Corporation (“Sinosure”)]]></category>
		<category><![CDATA[Farley & Williams LLP]]></category>
		<category><![CDATA[Guangzhou Shipyard International]]></category>
		<category><![CDATA[J Lauritzen]]></category>
		<category><![CDATA[Ltd. (“BTMU”)]]></category>
		<category><![CDATA[Nippon Export and Investment Insurance (“NEXI”)]]></category>
		<category><![CDATA[Societe Generale]]></category>
		<category><![CDATA[The Bank of Tokyo-Mitsubishi UFJ]]></category>
		<category><![CDATA[Watson]]></category>
		<category><![CDATA[Yangzhou Kejin Shipyard]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10905</guid>
		<description><![CDATA[Over the past year, Danish owners have been extremely successful in tapping export credit agencies to help finance a part of their orderbooks in Asia. In a transaction that has recently come to light, J. Lauritzen had signed a USD 267 million export credit financing agreement with BNP Paribas last November. The transaction was structured [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>An Interesting Combination</title>
		<link>http://www.marine-money.com/archive/an-interesting-combination</link>
		<comments>http://www.marine-money.com/archive/an-interesting-combination#comments</comments>
		<pubDate>Fri, 25 Feb 2011 04:43:05 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[Export Credit]]></category>
		<category><![CDATA[Ahli United Bank (“AUB”)]]></category>
		<category><![CDATA[Al Khaliji Commercial Bank]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[Burgan Bank (Kuwait)]]></category>
		<category><![CDATA[Commercial Bank of Qatar]]></category>
		<category><![CDATA[Doha Bank Q.S.C.]]></category>
		<category><![CDATA[DVB Bank]]></category>
		<category><![CDATA[Gulf Bank – Kuwait]]></category>
		<category><![CDATA[Industrial and Commercial Bank of China (“ICBC”)]]></category>
		<category><![CDATA[Qatar National Bank (“QNB”)]]></category>
		<category><![CDATA[Samsung Heavy Industries]]></category>
		<category><![CDATA[United Arab Shipping Company (“UASC”)]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10948</guid>
		<description><![CDATA[Club deals involving multiple financial institutions from the Middle East, Asia and Europe are not common, but United Arab Shipping Company (“UASC”) has demonstrated that raising capital across these regions can still be done today, if you know where to look. Last Tuesday, the container shipper announced that it had secured a USD 302 million [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>BLT Receives Backing from 6 Banks</title>
		<link>http://www.marine-money.com/archive/blt-receives-backing-from-6-banks</link>
		<comments>http://www.marine-money.com/archive/blt-receives-backing-from-6-banks#comments</comments>
		<pubDate>Fri, 25 Feb 2011 04:35:52 +0000</pubDate>
		<dc:creator>rwong</dc:creator>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Bank Debt]]></category>
		<category><![CDATA[Berlian Laju Tanker (“BLT Tanker”)]]></category>
		<category><![CDATA[BNP Paribas]]></category>
		<category><![CDATA[DnB NOR Bank]]></category>
		<category><![CDATA[ING]]></category>
		<category><![CDATA[NIBC]]></category>
		<category><![CDATA[Nordea Bank]]></category>
		<category><![CDATA[Standard Chartered]]></category>

		<guid isPermaLink="false">http://www.marine-money.com/?p=10944</guid>
		<description><![CDATA[From its humble beginnings as a small local Indonesian tanker operator, BLT’s successful listing in Singapore was catalytic to its transformation into one of the largest chemical tanker owners in the world. Its Singapore listing in 2006 shrewdly placed the company on the radar screens of many shipping banks in the city state, who have [...]]]></description>
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		<slash:comments>0</slash:comments>
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