Alantra advises VG Shipmanagement S.A. (and its affiliates) on raising debt to support the acquisition of one Handysize Vessel

Mar 2022

Acquisition Financing

Value $11.5mn

Alantra has advised VG Shipmanagement S.A. (and its affiliates) on raising debt to support the acquisition of one Handysize Vessel. The financing amount reached $11.5mln (ca. 71% LTV) 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 3 weeks from indicative terms to drawdown.

VG Shipmanagement S.A. is an Athens-Based, privately-owned ship-management company with a focus on the Handysize bulk carrier sector, managing a fleet of five modern Handysize dry bulk carriers, all built in high-quality Korean and Japanese yards.

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.