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J. Lauritzen A/S signs loan agreement, benefitting from NEXI export credit insurance

Mar 25 2010
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J. Lauritzen A/S has signed a loan agreement amounting to approximately JPY 15.5 billion with Société Générale Corporate & Investment Bank and The Bank of Tokyo-Mitsubishi UFJ Ltd. backed by Nippon Export and Investment Insurance (NEXI), one of two Japanese export credit agencies.

The loan will finance five Handysize bulk carriers and one Capesize bulk carrier under construction at Japanese shipyards.

“We are very satisfied to have signed this financial agreement in collaboration with NEXI. The agreement supports J. Lauritzen’s close cooperation with Japanese shipyards and trading houses. Going forward we will consider similar financial arrangements in connection with our Japanese newbuilding program” says Birgit Aagaard-Svendsen, executive vice president & CFO with J. Lauritzen A/S.

There is a long-standing and strong relationship between J. Lauritzen and the Japanese business environment and for more than 25 years the Lauritzen Group has been represented in Japan through J. Lauritzen (Japan) K.K.

The financial agreement will be the first of its kind with a company located in an OECD country for which NEXI will provide its cover without the cooperation of Japan Bank for International Cooperation.

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