Capital Has a Price

Last week, we covered Justine Fisher’s presentation, which had an interesting slide on financing. In it, she described the current period as one of capital delayed rather than denied. She also highlighted the creativity of financiers and finally that capital eventually finds its way to profitable markets. We believe we found an example that confirms her theses as well as highlights the fact that alternative financing will play a major role in unraveling the current credit crisis. We note up front that it does have a price.

A Norwegian K/S arranger announced successfully closed last week a sale-leaseback transaction with an owner of small chemical tankers. A K/S company agreed to purchase three vessels for $22.0 million and bareboat charter them back for 8 years.

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