Russian company St. Peter Line has made the final payment to Irish Continental Group (ICG), the country’s leading maritime transport group, related to the sale of the vessel SPL Princess Anastasia (formerly Pride of Bilbao).
ICG today received €17.0 million in full settlement of all amounts due under the terms of the Bareboat Hire Purchase Agreement for the sale of SPL Princess Anastasia.
Under the agreement, concluded in 2010, this amount was receivable in instalments from St. Peter Line over the period to September 2016.
The funds will be utilised towards reduction of ICG’s net debt.
icg, April 2, 2014