Courage Marine raises $10m via vessel sale

Hong Kong: Hong Kong-based Courage Marine announced that the company is to obtain financing to the total amount of US$10m, by selling a bulk carrier to Grand Capital through its wholly-owned subsidiary Sea Pioneer, and leasing it back.

The financing arrangement would enhance the working capital position of the group by using the existing vessel as collateral, and would allow the group to optimize its assets and debt structure, the company said in a statement. [18/02/14]

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