India’s Shipping Corporation hits market with $260m loan
Shipping Corporation of India launched a $260m loan into the market through sole arranger State Bank of India on Tuesday, as activity in the Asian loan market starts to pick up after Chinese New Year.
The loan is split into a $75m three year piece that carries all-ins between 225bp-235bp and a $185m 5-1/2 year tranche that pays 243bp-255bp.
The fully underwritten loan will support the acquisition of six long-range product tankers, which will be delivered between April and July 2010.
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