UASC closes landmark ship financing

United Arab Shipping Company (UASC) has closed a $1.251 billion multi-tranche syndicated loan facility for the partial financing container ships. The transaction is for seven x 14,000 TEU container ships and five x 18,000 TEU container ships. The facility is part of a larger $1,744 billion debt financing related to UASC’s announced $2.3 billion capital expenditure programme for 17 newbuild container vessels including, in total, 11 x 14,000 TEU and 6 x 18,000 TEU vessels.

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