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>

<< Aug 2019 >>
MTWTFSS
29 30 31 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

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >