Japanese financing for TCC bulkers

Hong Kong: The Japan Bank for International Cooperation (JBIC) has signed two buyer's credit agreements totalling up to $12m and about $11.8m respectively with two Singaporean subsidiaries of Hong Kong’s Tai Chong Cheang Steamship Group (TCC Group) for funding the purchase of two bulk carriers. These loans are cofinanced with the Tokyo Branch of BNP Paribas Bank and Sumitomo Mitsui Trust Bank. The overall cofinancing amount of each loan adds up to $24m and about $23.7m. Nippon Export and Investment Insurance (NEXI) is providing insurance for the portion cofinanced by private financial institutions.  [06/06/14]

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