Germany s Hapag-Lloyd Secures Green Funds for LNG Containerships
Feb 9, 2021 7:05:am
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by: Joe Murphy
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Germany s Hapag-Lloyd Secures Green Funds for LNG Containerships
German shipping line Hapag-Lloyd has secured $890mn in green financing for the construction of six LNG-fuelled containerships, it reported on February 8.
Hapag-Lloyd placed a $1bn order for the six dual-fuel vessels at South Korea s Daewoo Shipbuilding & Marine Engineering yard in December. It has now secured a $417mn syndicated loan from 11 banks with a 12-year maturity to cover the cost of three of the ships. The facility is backed by Korea Trade Insurance Corp, while KfW IPEX-Bank and BNP Paribas oversaw its structuring.
The UK’s export credit agency UK Export Finance (UKEF) is providing £1.7bn in backing for a monorail project in Egypt, the largest amount it has ever provided for an overseas infrastructure project.
UKEF’s support takes the form of a buyer credit guarantee on a €1.89bn loan facility, including financed ECA premium, for a €2.7bn contract supplied by Bombardier Transportation UK. The facility is administered by a syndication of banks, led by JP Morgan as the initial mandated lead arranger and facility agent. The other banks in the syndicate are CaixaBank, Crédit Agricole, Credit Suisse, KfW Ipex-Bank, NatWest, Société Générale and UBS.