ICP Capital Structures Pemex Transaction

Last week, ICP Capital announced it had structured and arranged a $121 million financing package for Blue Marine Shipping of Mexico to acquire two 40,000 DWT product tankers to be leased to Pemex Refinacion for ten years with a purchase option at lease end.

To facilitate the transaction, ICP and Blue Marine established a Mexican trust. The trust will qualify the ships under Mexican domestic shipping laws while protecting the investor’s security interest in the vessels and the Pemex lease receivables.

Established in 2004, ICP Capital specializes in fixed income capital markets and asset management services. The company provides financing solutions for corporations worldwide. The asset management division manages approximately $13 billion in direct lending, private equity and hedge fund strategies.

Blue Marine, founded in 1998, provides

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