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The Rich Get Richer

It was certainly obvious that when the banks decided to re-engage in their main activity of lending, they would be even more discriminating. A stronger credit with higher pricing translates to higher returns with less risk, a no brainer. Last week, Ship Finance International found itself the beneficiary of this thinking. While negotiating the refinancing of the loan on the Frontline fleet, Ship Finance found itself in the midst of hungry bankers clamoring for a piece of the loan, this led to a significant oversubscription problem (sic). Given the conservative leverage on the fleet, it agreed with the banking syndicate to upsize the loan by $50 million to $725 million providing even further capacity to take advantage of opportunities that might arise.

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Written by: | Categories: Freshly Minted, The Week in Review | March 25th, 2010 |

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