Singapore-based Miclyn Express Offshore has secured credit facilities of $23.4m from GE Capital to refinance the existing credit facility for its wholly-owned subsidiary Samson Maritime Holdings, Seatrade Asia online reports.
The refinancing was completed in conjunction with a restructuring of the Samson Maritime Group, reducing the cost base of the newly acquired business.
“A strong working relationship (with GE Capital) has been developed which has facilitated deal closure and will be invaluable in the future,” said Diederik de Boer, ceo of Miclyn.
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