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The Right Stuff – d’Amico Gets Club Loan
On Tuesday, d’Amico International Shipping S.A. announced that its operating subsidiary d’Amico Tankers Limited – Ireland entered into a 7-year $48 million term loan facility with Credit Agricole CIB and DnB NOR for the financing of two 52,000 DWT MR Product/Chemical tanker newuildings. Proceeds will be used to partially finance the remaining installments of $56 million. The facility bears a highly competitive interest rate and is secured mainly by 1st priority mortgages and a parent guarantee. Under construction at Hyundai Mipo, the vessels will be delivered in March and April 2012.
Ninja Takes on Credit Markets
On Tuesday, d’Amico International Shipping S.A. (“DIS”) announced that its operating subsidiary d’Amico Tankers Limited (Ireland) (“DAT”) had concluded a term loan facility of up to ten billion Yen (~$95 million). The facility was arranged by the Mizuho Corporate Bank Ltd., which is the market leader of the “Ninja Loan” market, and has been syndicated to a pool of Japanese primary banks and leading financial institutions. The proceeds of the loan will be used to acquire Japanese product tankers for which DAT has purchase options (4.5 vessels) and/or the acquisition of other product tankers (12.3 on order).
TMI?
What a week for investors! Starting with CMA’s annual event, continuing with JPMorgan’s Conference and concluding with the Capital Link Forum, it is conceivable that even the most interested observer of the industry may have suffered from information overload. Thankfully, with Good Friday, many of us had the opportunity to recover with a long-weekend.
Despite the early start, the Capital Link Forum played to a full house. There were company presentations galore interspersed with lively and informative panel discussions. With far too much information to distill, here is a highly selected compendium of our outtakes.
The Official Guide To Marine Finance Providers
Shipping Index
