Athens-based dry bulk shipping company Globus Maritime Limited has successfully completed its first sale and leaseback transaction, securing US$28 million in financing for a newbuild bulk carrier.
The deal, wich involved the vessel m.v GLBS MIGHT, was structured as a ten-year capital sale & leaseback arrangement with a Japanese leasing house. This innovative financing strategy provides Globus with immediate capital while allowing them to retain operational control of the vessel.
“This transaction marks a notable milestone for Globus Maritime,” said Vassiliki georgopoulos, Partner at Watson Farley & Williams (WFW), the law firm that advised globus on the deal.”It demonstrates the company’s commitment to exploring innovative financing solutions to support its growth and expansion.”
Globus Maritime, listed on the Nasdaq Capital Market, operates a fleet of eight dry bulk vessels, including Kamsarmax, Supramax, and Ultramax vessels. The company provides marine transportation services worldwide.
The WFW Athens Maritime team, led by Georgopoulos and supported by Counsel Georgia Asimakopoulos and Associates angelos Michas and Stavroula Giannopoulou, provided comprehensive legal guidance to Globus throughout the transaction.
## summary of the Article:
Globus Maritime Limited, a dry bulk shipping company based in Athens, has successfully financed a newbuild bulk carrier through a sale and leaseback transaction.
**Key details:**
* **Financing:** US$28 million
* **vessel:** m.v GLBS MIGHT
* **Transaction Structure:** Ten-year capital sale & leaseback arrangement
* **Counterparty:** A Japanese leasing house
This transaction marks globus Maritime’s first foray into sale and leaseback financing, highlighting the growing trend of innovative methods used in the shipping industry to secure capital.
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