Wisdom Marine seeks $100m refinancing

Wisdom Marine seeks $100m refinancing

Taiwan’s Wisdom Marine is seeking a $100m loan from banks to refinance an existing loan, Reuters Basis Point has reported.

Taiwan’s First Bank will be the exclusive lead bank and bookrunner for the loan. Wisdom Marine will pledge six vessels as collaterals in the loan deal which will be decided by the banks before March 17.

Wisdom Marine secured a ship loan of $120m in total from a group of banks including First Bank, Bank SinoPac, Hua Nan Bank, Taiwan Cooperative Bank and Bank Of Kaohsiung to finance the construction of six bulk carriers built in Japanese shipyards.

Wisdom Marine is the largest dry bulk owner in Taiwan with a fleet of 114 vessels, 24 of which are newbuildings delivered in the past three years.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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