SHIP Finance International has entered into lease financing agreements totalling US$400 million with an Asian-based institution to finance four 14,000 TEU containerships acquired this May.
The vessels are employed under long-term time charters to Evergreen Marine Corporation (Taiwan) until 2024, with options to extend the charters by 18 additional months.
Each lease financing has a term of nine years, with an option to purchase the vessel back after six years, around expiry of the firm period of the charters to Evergreen. A portion of the proceeds from the lease financings will be used to refinance the $320 million unsecured loan facility arranged at the vessels' delivery in May, Hellenic Shipping News Worldwide reported.
Lease financings for three of the vessels have already been finalised, and the last vessel is expected to close later this month.
CEO of Ship Finance Management Ole Hjertaker said: 'These financing transactions demonstrate our continued ability to attract highly competitive capital.'
The vessels are employed under long-term time charters to Evergreen Marine Corporation (Taiwan) until 2024, with options to extend the charters by 18 additional months.
Each lease financing has a term of nine years, with an option to purchase the vessel back after six years, around expiry of the firm period of the charters to Evergreen. A portion of the proceeds from the lease financings will be used to refinance the $320 million unsecured loan facility arranged at the vessels' delivery in May, Hellenic Shipping News Worldwide reported.
Lease financings for three of the vessels have already been finalised, and the last vessel is expected to close later this month.
CEO of Ship Finance Management Ole Hjertaker said: 'These financing transactions demonstrate our continued ability to attract highly competitive capital.'