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National Bank Of Greece News

28 Jul 2017

Capital Product Partners Sings Pact for $460 Mln Refinancing

Capital Product Partners  entered into a firm offer letter for a senior secured term loan facility of up to $460.0 million with HSH Nordbank AG and ING Bank as mandated lead arrangers and bookrunners and BNP Paribas and National Bank of Greece S.A. as arrangers. The lenders also include Alpha Bank S.A., Piraeus Bank S.A. and Skandinaviska Enskilda Banken AB (Publ). The closing of the credit facility is subject to finalization of the long form loan documentation. "We intend to use the net proceeds of the loans under the New Facility, together with available cash of approximately $120.6 million, to refinance, four out of five of our existing credit facilities amounting to $580.6 million in total," says a statement from the company.

15 May 2015

Hellenic Ship Finances Look Up

The overall Greek loans of Hellenic maritime companies and ship owners (drawn and committed but undrawn) rose to $64.019 billion by the end of 2014, 4.1% higher than the $61.498 billion of 2013. Petrofin Research in its latest annual research says that drawn loans are up by 2.85% and Commitments by 18.11%, the latter prompted by the high Greek newbuilding orders. Of the 5 Greek banks active in the shipping finance market, National Bank of Greece shows an increase by 7.33% and Aegean Baltic by 11.99%. The rest show minor decreases. Overall, Greek banks’ exposure is up by 3.17% to a total of $10,8 billion, reflecting the increased stability in 2014 for Greek banks. This increase is the first sign of a recovery, since 2008.

26 Feb 2015

Greek Banks Mull Cutting Shipping Portfolios

Greece's leading banks are considering offloading part of their portfolios of shipping debt worth billions of dollars in a bid to shore up their capital, according to banking and ship financing sources. Greece has secured an extension to its bailout from its European partners, but the danger of it unravelling and of Greece being pushed out of the euro zone still exists, raising the risk that Greek banks could face large deposit losses in the future to add to those they have already had. "There are several portfolios being shopped around at the moment, including shipping loans," one banking source said. The banker and a ship-finance source said such debt could be attractive for private equity players who have been scooping up distressed assets in shipping due to the sector downturn.

18 Apr 2011

Dryships Announces Signing Of $800 Million Loan Facility

ATHENS, GREECE – April 18, 2011 - DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced the signing, by its majority-owned subsidiary Ocean Rig UDW Inc. (“Ocean Rig”), of the $800 million syndicated secured term loan facility to partially finance the construction costs of the Ocean Rig Corcovado and Olympia. This facility has a 5 year term and 12 year repayment profile, and bears interest at LIBOR plus a margin.

08 Feb 2011

Capralos Star Bulk CEO & President

Star Bulk Carriers Corp. (NASDAQ: SBLK), announced that Spyros Capralos has been appointed as President and Chief Executive Officer, to succeed Akis Tsirigakis, effective as of February 7, 2011. Capralos has also been appointed to the Board of Directors which is now comprised of eight members. Tsirigakis will continue to serve as a director. Tsirigakis' parting was mutually agreed, so he may pursue other interests. Capralos served, until October 2010, as Chairman of the Athens Exchange and Chief Executive Officer of the Hellenic Exchanges Group and was the President of the Federation of European Securities Exchanges. He was formerly Vice Chairman of the National Bank of Greece…

11 Oct 2010

Tsakos Energy Nav. Appoints Arapoglou to Board

Tsakos Energy Navigation Limited announced that Takis Arapoglou has been appointed to the company's board of directors. Arapoglou was Chairman and Chief Executive Officer of the National Bank of Greece from March 2004 until December 2009 and Chairman of the Hellenic Bankers Association from 2005 to 2009. Prior to this and between 2000 and 2004, he was Managing Director and Global Banking Industry Head for Citigroup based in London. He is a graduate of the University of Athens School of Mathematics and earned a BSc in Naval Architecture from the University of Glasgow and an MSc in Management from Brunel University. D. John Stavropoulos, Chairman of the Board, commented, "We are delighted to have someone with Mr. Arapoglou's background and experience join our board.

11 Mar 2009

Lambros Resigns from Seanergy Maritime

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP; SHIP.W) announced that Mr. Lambros Papakostantinou, member of the Board of Directors of the Company, has resigned from his position as Director effective immediately. New duties have been assigned to him at the National Bank of Greece which could constitute a conflict of interest with his position as member of the Board of Directors of the company. The company would like to thank Mr. Papakostantinou and wish him every success in his future endeavors. Seanergy Maritime Holdings Corp., the successor to Seanergy Maritime Corp., is a Marshall Islands corporation with its executive offices in Athens, Greece. The company is engaged in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers.

04 Nov 2008

Danaos 3Q, 9 Month Report

Danaos Corporation (“Danaos”) (NYSE: DAC), a leading international owner of containerships, reported unaudited results for the period ended September 30, 2008. •    Net earnings from continuing operations of $28.0 million or $0.51 per share and $93.2 million or $1.71 per share for the quarter and the nine months ended September 30, 2008, respectively, compared to $25.5 million or $0.47 per share and $78.4 million or $1.44 per share for the respective periods of 2007. •    Operating revenues from continuing operations of $76.4 million and $220.2 million for the quarter and the nine months ended September 30, 2008, respectively, compared to $62.6 million and $187.5 million for the respective periods of 2007.

15 Apr 2008

Quintana Shareholders Approve Excel Merger

Excel Maritime Carriers Ltd. (NYSE: EXM) and Quintana Maritime Limited (NASDAQ: QMAR) jointly announced that at a special meeting of Quintana’s shareholders held April 14, 2008, Quintana’s shareholders voted to approve the merger agreement pursuant to which Excel will acquire Quintana. Under the terms of the merger agreement, each issued and outstanding share of Quintana common stock will be converted into the right to receive (i) $13.00 in cash and (ii) 0.4084 Excel Class A common shares. The 0.4084 exchange ratio will be reduced to reflect the $0.31 dividend paid by Quintana to its shareholders on March 7, 2008, in accordance with the terms of the merger agreement. Excel and Quintana expect the merger to close on or about April 15, 2008.

17 Dec 1999

Minoan Lines To Sign Loan

Ferry operator Minoan Lines will sign a $253.5 million syndicated loan jointly arranged by Citibank and National Bank of Greece to finance four highspeed ferries under construction, according to officials. Participating in the syndicated loan are Bayerische Hypo und Vereinsbank, Commercial Bank of Greece, Deutsche Schiffsbank, Landesbank Schleswig-Holstein Girozentrale, Alpha Credit Bank, BNP, Commerzbank, Meespierson, Schiffhypothekenbank zu Luebeck, Nedship Bank, ABN AMRO Bank and Efibanca.

25 Jan 2000

Piraeus Shipping Center Inaugurated

Prime Minister Costas Simitis inaugurated National Bank of Greece's Shipping Trade Center in the port city of Piraeus, near Athens, and called for more investment and a better attitude from all. Simitis said the center will help promote quality shipping in the country's key sector. He noted that Greek shipping needs Greek officers and seamen, adding that the government will also offer solutions to the country's shipbuilding industry. The prime minister also said that upgraded, reputable shipping companies would find it easier to list on the Athens Stock Exchange, effectively providing them with an alternative source of capital.