Alantra advises the Pioneer Marine Group (and its affiliates) on raising financing to support the acquisition of two Handysize Bulk Carriers

Dec 2021

Debt Refinancing

Value $17.8mn

Alantra has advised the Pioneer Marine Group (and its affiliates) on raising financing to support the acquisition of two Handysize Bulk Carriers. Total financing reached an amount of $17.8mln (ca. 70% LTV) and was provided by Chailease International Finance, a leading Far Eastern Equipment Leasing Financier. Execution, led by Alantra’s Maritime & Offshore team, which acted as sole arranger and placement agent, extended over a period of 2.5 months.

Pioneer Marine Inc., registered in the Norwegian OTC since March 2014, is a global shipping company specializing in the transportation of dry bulk commodities and is managing a fleet of 14 geared dry bulk carriers which trade worldwide carrying a wide range of cargoes.

Chailease International Finance is one of the largest financial institution groups in Taiwan, with financing activities across the entire spectrum of asset-backed financing, including shipping, yacht, aviation, automobile, and equipment leasing towards a domestic and international clientele.