Marine Link
Friday, July 19, 2024

RCP Finance Secures Funding for Fuel Distributer in Maldives

Maritime Activity Reports, Inc.

October 18, 2023

Source: RCP Finance

Source: RCP Finance

Independent finance and capital structuring partner RCP Finance has successfully secured a $15 million credit facility from a leading Asian lender for The Hawks Pvt Ltd., a distributor of high-quality fuel in the Maldives.

The Hawks caters to a range of local businesses including resort hotels, super yachts and navy vessels, with a total portfolio of more than 452 clients.

Part of the credit facility has been used to facilitate the acquisition of the Bro Developer, a 2007 oil and chemical tanker with a carrying capacity of 15,000dwt. This vessel, formerly owned by Maersk, marks a significant expansion for The Hawks. It already owns several oil tankers and barges, and it will allow the company to enhance its capabilities in the oil distribution industry – both in the Maldives and throughout the Indian Ocean.

RCP Finance has developed long-standing personal relationships with a global network of banks, funds, family offices, and other lending institutions. This deal illustrates RCP Finance’s increasingly sector agnostic position within the finance and capital structuring industry. The firm has its roots in luxury real estate and private client services and is now steadily growing its presence in oil and gas, infrastructure, mining and maritime. 

Largely due to this expansion in its scope and services, the RCP Finance team has recently been further strengthened by the recruitment of Régis Castro, who joins RCP Finance as Partner and Head of Structuring. Castro is a senior investment banker with over 20 years' experience in various roles in M&A, financing, and credit risk management, including 17 years at JPMorgan. He has led financing transactions across the capital structure and rating spectrum in all sectors and will be an invaluable asset to the RCP Finance team.