Tognum Secures Long-term Financing

Press Release
Friday, August 10, 2012

Tognum has recently concluded an agreement with a bank consortium for a revolving credit line of €300 million.

The credit line has a term of five years. In addition to Commerzbank as the coordinator, seven other banks are involved. Tognum will redeem the consortium financing that was agreed during the IPO in 2007 accordingly in the next few days.


In the last few months, Tognum also received loans totalling €200 million for research projects from the European Investment Bank (EIB). In addition, KfW IPEX-Bank will finance R&D activities amounting to €50 million. The contract was signed quite recently.


“Tognum was able to secure the currently favourable interest rate for a long-term basic financing agreement,” explains Dieter Royal, CFO of Tognum AG. “The company thus has solid financing and is well prepared for the future.”

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Finance

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1779 sec (6 req/sec)