Triyards Agrees Short-Term Loan with Ferrell Vanguard

Singapore-based shipbuilder Triyards Holdings Limited has entered into an exclusivity and short-term loan agreement with Ferrell Vanguard Fund SPC.

Under the deal, the Ferrell Vanguard would provide the shipbuilder with a loan of up to USD 5 million to meet working capital needs including outstanding salary payments in Singapore and Vietnam.

The loan has a tenor of 180 days and carries an interest of 4% per annum.

The first tranche of USD 1.2 million is to be disbursed immediately to settle outstanding salary payments of the company’s wholly owned subsidiaries based in Vietnam, while USD 3.8 million is expected to be disbursed by February 20, 2018.

Furthermore, Ferrell Vanguard may invest not less than USD 50 million into Triyards Holdings whether by way of loan, subscription of shares or other means.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2018 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

TRANSTEC 2018

TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >

Defence Safety Conference Supported by The Defence Safety Authority, UK MoD

The Defence Safety Conference is the first of its kind exclusively dedicated to safety across the defence domain…

read more >