Paragon floats away with ship financing from CDB

Greece’s Paragon Shipping has received a $69m credit facility from China Development Bank to provide partial funding for the construction of two new container ships.

  • 21 May 2013

The loan is available to be drawn upon delivery of the vessels, expected in the second quarter of 2014. It will mature 10 years after the drawdown date and carries a margin of 400bp over Libor.

The facility will be used to finance the lower of 60% of ...

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