SafeBulkers is the first Greek based shipping company to agree a $122.4 million financing facility with Japanese Governmental financial institutions

An innovative credit agreement was concluded between SafeBulkers and Japanese governmental financial institutions amounting to US $122.4 million to finance the acquisition of three Japanese Post-Panamax class newbuild vessels.

The vessel acquisitions from Japanese shipyards relate to one vessel which was delivered in 2010 and two vessels which are expected to be delivered in 2011 and 2012, respectively.

The structure of the financing is in accordance with the Organisation for Economic Cooperation and Development-approved export credit schemes. The amount is repayable over twelve years with very competitive financial terms. The credit agreements were concluded with the Japan Bank for International Cooperation, (the “JBIC”), and Citibank Japan, Ltd acting as lead arranger.
The JBIC is the international wing of Japan Finance Corporation, a Japanese governmental financial institution which conducts lending, investment and guarantee operations while complementing private sector financial institutions, promoting Japanese industry. Nippon Export and Investment Insurance, the official export credit agency of Japan, insured almost half of the amount.

Full article, ELNAVI Magazine, Issue 451-452, Page. 46

Read also this article in : Greek

Comments are closed

© 2018 Elnavi. All Rights Reserved. Log in

- Designed by Gabfire Themes