Cecon Shipping 3 AS, a subsidiary of Rever Offshore AS, has secured a $35 million senior bond financing arrangement with York Capital Management Global Advisors, LLC (York) for the purpose of starting the completion of Hull 719.
The company notes that to enable an earlier start-up of the Hull 719 completion, Cecon Shipping 3 AS has used its option to terminate its current financing arrangement with York in respect of Hull 719.
A new bond financing arrangement has been made, securing York’s purchase of a first issue of $35 million in senior bonds to start the initial phase of the completion of Hull 719 – which will, according to the company, be completed shortly.
Furthermore, the company says that the remaining capital required to complete the two year Hull 719 completion project will conclude at a later stage.
[mappress mapid=”935″]