Iason Hellenic Shipping Co. Ltd (IHS) has successfully completed a debt capital raising program for three (3) dry bulk Kamsarmax newbuildings under management. IHS principals have entered into three (3) separate loan agreements with two major European shipping lenders for the financing of their respective vessels on order.
These financing arrangements carry a 7-year term and alongside equity capital already committed complete the financing requirements for the fleet on order and under management. Two of these term loan arrangements are structured as syndicated loan facilities expected to be marketed to Chinese and/or other Asian financial institution.
The overall newbuilding investment program established in 2010 will bring IHS’s annual cargo carrying capacity to circa 2 million tonnes whilst forming the basis for one of the most modern fleets in the industry.
Iason Hellenic Shipping Co. Ltd is a leading international transporter of dry bulk commodities at sea and ship management firm established in 1983. IHS provides a full suite of commercial, technical, crew and other ship management services to its principals and through its managed fleet, has transported over 30 million tonnes of dry bulk commodities on behalf of a wide range of distinguished charterers.