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Overview

China Eximbank participates in $161.6 million Sinosure-backed syndicated loan for financing of four 5,300 TEU container vessels

Commitments (Constant USD, 2023)$80,800,000
Commitment Year•2023Country of Activity•Marshall IslandsDirect Recipient Country of Incorporation•Marshall IslandsSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 16, 2023

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Cofinancing agencies

Private Sector

  • DNB Bank ASA (formerly DnB NOR ASA)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Calliope Shipping Corporation
  • Erato Shipmanagement Corporation
  • Euterpe Shipping Corporation
  • Terpsichore Shipping Corporation

Insurance providers

State-owned companies

  • China Export & Credit Insurance Corporation (Sinosure)

Loan description

China Eximbank participates in $161.6 million Sinosure-backed syndicated loan for financing of four 5,300 TEU container vessels in Marshall Islands 2023

Interest type•Unknown

Narrative

Full Description

Project narrative

On February 16, 2023, China Eximbank and DNB (UK) Limited signed a $161.6 million Sinosure-backed syndicated facility agreement with Terpsichore Shipping Corporation, Erato Shipmanagement Corporation, Calliope Shipping Corporation and Euterpe Shipping Corporation — four special purpose vehicles and wholly owned subsidiaries of Navios Maritime Partners L.P. that are legally incorporated in the Marshall Islands — for the financing of four 5,300 TEU container vessels.

Staff comments

1. The loan agreement can be accessed in its entirety via https://ir.navios-mlp.com/node/16806/html. 2. The individual contributions of the syndicate participants are unknown. For the time being, AidData assumes equal contributions ($80.8 million) across the two members of the syndicate.