CP Ships Closes On $350 Million Credit Facility

Friday, March 15, 2002
CP Ships has closed on the remaining $100 million of a $350 million secured five-year revolving credit facility announced in December 2001. The facility's lead arranger, Citibank NA, has placed the $100 million with five major banks. These are in addition to the eight banks participating in the $250 million first part of the facility, which was signed on 20th December 2001. All 13 banks have extensive experience of lending to the shipping industry. The facility will be used primarily to finance CP Ships' previously announced $800 million ship investment program. CP Ships also has in place a secured $175 million revolving credit facility which became effective on 2nd August 2001.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

India Seeks Stake in Iran LNG Terminal

Indian Petroleum Minister Minister Dharmendra Pradhan says India has expressed interest in setting up an LNG terminal at Chahabar port in Iran to ship back home natural gas from Persian Gulf nation,

Hanjin Shipping May Get OK for Restructuring

South Korea’s largest container operator by capacity Hanjin Shipping's creditors are expected to approve a corporate rehabilitation program for the struggling container line,

A Look Back At The Tanker Market

The fall in the oil price after the summer of 2014, coupled with the decision by OPEC to keep oil production at elevated levels has combined to support an improved tanker market,

 
 
Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0544 sec (18 req/sec)