Alantra advises GMM Fund Management (and its affiliates) on raising debt to support the acquisition of one Handysize Dry Bulk Vessel

Dec 2021

Acquisition Financing

Value $8.5mn

Alantra has advised GMM Fund Management (and its affiliates) on raising debt to support the acquisition of one Handysize Dry Bulk Vessel. The financing amount reached $8.5mln (Ca. 60% LTV) and was provided by Direct Ship Finance, a lender with committed capital from institutional investors with a long-term investment horizon. Execution, led by Alantra’s Maritime & Offshore team, extended over 10 weeks from indicative terms to drawdown.

GMM Fund Management Group of Companies, based in Cyprus, is a management company operating in the financial sector, setting up, running and managing UCITS Funds as well as Alternative Investment Funds (AIFs), offering services to a wide investor base, organizations, corporates, wealth and asset managers.

Direct Ship Finance, based in the Netherlands, provides senior secured loans backed by all main vessel types in Dry Bulk, Crude, Product, Chemical, LPG and Container sectors. Other vessel types can be considered by Direct Ship Finance on an individual basis.