KfW uses Eurofin to target Greek owners

Monday, June 02, 2008

Major global financier KfW IPEX-Bank is increasing its focus on the
Greek shipping market and has appointed independent financial adviser
Eurofin to act as its consultant. Eurofin will assist KfW IPEX-Bank
through its Athens based office in developing a high quality Greek
shipping loan portfolio by providing the bank with ongoing market
intelligence on the Greek shipping market, introducing Greek owners to
the bank, providing regular updates on the activities of potential Greek
clients and identifying ship financing opportunities for the bank. 

Dr. Uwe-Carsten Wiebers, head of shipping for KfW IPEX-Bank, says,
"Currently we are the fifth largest shipping bank in the world, with a
portfolio of around Euro14.5 bn, and have already some excellent Greek
clients. We are ready to extend our portfolio in the Greek market and we
hope that Eurofin will play a key role as our adviser in helping us to
understand the market in detail and ensure our funds are put to good use
and in safe hands."

Anthony Zolotas, CEO of Eurofin, says, "There are some very good and
sound opportunities for banks in the Greek shipping market, which is
stronger than it has ever been. But especially after a long shipping
boom, and with the world finance system in the grip of a credit crunch,
good banks such as KfW IPEX-Bank have to be selective. We can use our
long experience and deep knowledge of the Greek shipowners worldwide to
help them build a significant position in the world's largest shipping
market, with substantial clients and solid projects."

KfW IPEX-Bank brings together all financial service activities in which
KfW Bankengruppe competes with other banks - corporate finance, loans
for infrastructure projects, export credit, project and structured
finance, and short-term trade finance. With a loan portfolio of Euro
62.1 billion, it is a large credit institution operating on a worldwide
scale.  It's creditworthiness is excellent, having an AA- rating from
Standard & Poor's and Aa3 from Moody's, which stems chiefly from a solid
market position in international project and export finance that was
built up successfully on a global scale over fifty years as well as from
its strong equity base and close ties to KfW Bankengruppe, which ensure
refinancing at market rates at all times.

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