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Corporate Bank News

26 Jun 2017

Cargotec Refinances EUR 300 mln Credit Facility

Cargotec Corporation entered into an EUR 300 million multicurrency revolving credit facility with a syndicate of its six relationship banks on 26th June.    The facility carries a tenor of five years including two one-year extension options. The purpose of this facility is to refinance the existing EUR 300 million multicurrency revolving credit facility, maturing in January 2019.    With this facility, Cargotec strengthens its long-term liquidity and takes advantage of the favourable market conditions.   The facility was coordinated by SEB and the Mandated Lead Arrangers and Bookrunners are Citi, Danske Bank, Nordea Bank, OP Corporate Bank, SEB (Facility Agent) and Standard Chartered Bank.

14 May 2014

IMRF Gains Formal Legal Status in China

IMRF Chairman and APRC Vice- Chairman, Michael Vlasto, with APRC Chairman, Captain Song

The International Maritime Rescue Federation (IMRF) has successfully registered its Asia Pacific regional centre (APRC) in China, giving it formal legal status and providing a timely boost to maritime Search and Rescue (SAR) development in the region. Registration means that the IMRF, which has operated an office in Shanghai since 2011, can advance its activities without the limitations of Chinese law places on non-registered organizations. As a legal entity in China the IMRF can now operate a corporate bank account…

14 May 2012

Offshore Wind Investment Survey – Summit Planned

“Experience of the team” was recently named as the principal trait to accumulate capital for current offshore wind projects as found in Wind Energy Update’s survey on offshore wind investment and finance. Further to this, survey participants also saw that: ”the use of proven technologies’’ and the “site characteristics’’ also played a major role in the acquisition of finance. As explained by Marios Papalexandrou of Mott MacDonald, ‘experienced teams have greater risk awareness which allows them to predict hazards and respond to them in a quick and efficient manner’. The two fellow speakers (Matthew Tilbrook of Mizuho Corporate…

15 Dec 2011

Milbank Leads in $692 Million Drillship Deal

Milbank Represents Group of International Lenders in $692 Million Financing for New Deep Sea Drilling Ship Purchased by Brazil’s Schahin Group. Black Diamond 1 to be built by Samsung and leased to Petrobras for 10-year exploration of Brazil’s offshore oil and gas reserves; lender group from Asia, Europe, US. In one of the most significant cross-border financings involving Brazil’s offshore energy sector this  year, Milbank, Tweed, Hadley & McCloy LLP has represented a consortium of major international lenders providing a US$692 million debt facility for the purchase of the Black Diamond I deepwater drillship by Schahin Group. The Brazilian…

17 Mar 2009

Spectec Posts 2008 Results

SpecTec Group aggregated results (the sum of all revenues of all companies in the Group) have reached $47.8m, compared to $42.6m in 2007, with a growth of 12.16%. In the same period, consolidated revenues have grown by 12.9%. SpecTec’s growth in revenue has been of 53.7% since the acquisition from Xantic in 2005. The group closed 2006, 2007 and 2008 with profit. In the period 2005 to 2008, the company equity grew 28 %. During 2008, the company has been cash flow positive and has not had to use any corporate bank overdraft facility, even considering the heavy investment due to the creation of the new suite of products, AMOS2. AMOS sales have grown by 26.5%compared to 2007, and by 41% compared to 2006. All companies in the SpecTec Group are audited by Deloitte.

15 Apr 2008

Obituary: John Newbold

John "Jock" Newbold died Saturday, April 12, in New York. He was among the most well-known and highly respected figures in shipping and financial circles. Jock was most recently a Non-Executive Director of Castalia Partners Limited and also a member of the Advisory Board of Castalia Straits L.P. Newbold retired from Citigroup in 1997 after a 36-year career, the last 21 of which were spent with Citibank’s business with the shipping industry. From 1985 to 1997, Newbold was Division Executive in charge of the Global Shipping Division with offices in New York, London, Piraeus, Tokyo and Hong Kong. Earlier in his career, he held positions as Head of the Corporate Bank in Japan…

09 Feb 2007

ACP Awards Financial Advisor Contract for Expansion

Panama Canal expansion to Mizuho Corporate Bank, Ltd. Services within the contract include: reviewing the financial aspects of the ACP's Master Plan and expansion proposal, providing strategic counsel on financing structures and strategies and creating and implementing an integrated financial model, among other items. A total of 15 firms participated in the international bid for this contract, including firms from the United States, Japan, France, England and Spain. After thorough technical and economical evaluation of the proposals, the contract was awarded to Mizuho Corporate Bank based on the firm's reputable experience and capabilities. Moreover, the firm was the best fit for requirements and interests of the expansion project.