Standard Chartered Closes $1.6 bln+ in Shipping Finance

Standard Chartered said on Tuesday it had completed three shipping deals worth more than $1.6 billion in recent months.

 

The deals include in December a $684.5 million up to 12-year facility for BW Gas JuJu LNG, a joint venture between BW Group and Japan's Marubeni. In November, the bank also structured a $350 mln Islamic facility for National Shipping Company of Saudi Arabia (Bahri). The month before it closed a $572 mln loan to subsidiaries of India's Reliance Group, the bank said in a statement.

 

Reporting by Tom Arnold