Refinancing of the Fleet
On behalf of Hanzevast, Asset Partners arranged financing for four handysize bulk carriers.
Background
The client was seeking a suitable financing solution to refinance a fleet consisting of four 35,000 DWT handysize bulk carriers. Asset Partners was appointed to oversee the financing process and secure long-term financing for the existing portfolio.
The fleet consists of the vessels Hanze Genua, Hanze Göteborg, Hanze Gdansk, and Hanze Gendt, all sailing under the Dutch flag. The vessels are used to transport dry bulk cargo, including grains, steel products, wood products, and cement. Thanks to their size, equipment, and ICE-1C classification, the vessels are highly versatile on European and international trade routes.
The portfolio generates stable charter income and has a conservative leverage ratio relative to its underlying market value. The client wanted to restructure the existing financing and, at the same time, select a financing partner familiar with both the maritime sector and the specific characteristics of the fleet.
Asset Partners organized a competitive financing process in which various banks and alternative lenders were approached. After evaluating the proposals, ABN AMRO was selected as the financing partner for the fleet’s refinancing.
The financing structure that was implemented provided the client with long-term financing security and was aligned with the operational and commercial strategy of the shipping portfolio.
Result
- Refinancing of USD 25 million on improved terms
- Long-term financing solution tailored to charter revenue
- Supporting the long-term strategy of the shipping portfolio
Leading the Way
The right financing requires more than a good plan. We take the lead at every stage of the process, from analysis through closing. Accessible and responsive, analytically rigorous, fully independent and always focused on results.