China Construction Bank contributes $10.2 million to $87 million project finance package to Southern Cross Ship Line SA

$10.2M USD

Funder	China Construction Bank Corporation (CCB)
Recipient Organization	Southern Cross Ship Line SA
Country	Panama
Start Date	Mar 19, 2008
End Date	Jan 15, 2027
Duration	6,876 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`109948`

Grant Description

China Construction Bank contributes $10.2 million to $87 million project finance package to Southern Cross Ship Line SA On March 19, 2008, China Construction Bank (CCB) provided a $10.2 million loan as part of a $87 million project finance package used to acquire a newly constructed 180,000 DWT bulk carrier.

The asset was acquired by Orient Line Co Ltd through a special purpose vehicle (SPV), Southern Cross Ship Line SA, in Panama.

The transaction was co-financed by Sumitomo Mitsui Banking Corporation, which provided the remaining $53.2 million in debt financing.

The facility reached financial close on March 19, 2008, and was structured as an asset acquisition within the midstream oil and gas sector.

📚 Sources & References

Orient Imabari S2283 Asset Acquisition Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.