Alantra advises Prima Corporation S.A. on raising debt to support the acquisition of three Handysize Dry Bulk Vessels
SECTORMaritime and Offshore; Dry Bulk
ServiceAcquisition Financing
Value $50.2mn
Alantra has advised Prima Corporation S.A. on raising debt to support the acquisition of three Handysize Dry Bulk Vessels. The financing amount reached $50.2mln (ca. 75% LTV on average) and was provided by Northern Shipping Funds, a leading alternative capital provider to the shipping industry. Execution, led by Alantra’s Maritime & Offshore team, extended over 2 months from indicative terms to drawdown.
Prima Corporation S.A. was founded in the 1990s and has since developed into a diversified Dry Bulk Operator. In the last 5 years the group has been carrying mostly Coal, Fertilizers & Grains in the amount of about 6 million tons per year.
Northern Shipping Funds, established in 2008, caters to industries such as energy, oil and gas, and marine transportation. The firm employs an asset-based approach and represents a stable source of capital, providing structuring flexibility and execution.
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