Singapore: Chinese banks are the most likely partner for Ezra Holdings as they explore a sale and leaseback deal for EMAS AMC pipelay and construction vessel Lewek Constellation.
Ezra is said to be looking at options for the $600m vessel, with the company being highly leveraged in poor market conditions created by lower oil prices. The move would free up around $200m according to UOB Kay Hian Research.
A broking source told Splash: “It’s a lot of money and financial institutions focusing on residual risk will underprice it. Watch the Chinese banks like Minsheng Leasing and ICBC Financial Leasing. This is their sweetspot.”
In February last year EOC did a $200m sale and leaseback deal for Lewek Champion with ICBC Financial Leasing.
