Irish Continental Group Gets Loan for New Ferry

Dublin-based maritime transportation group Irish Continental Group (ICG) has secured a loan to finance the construction of the second new vessel for ICG’s Irish Ferries operations.

As informed, ICG has concluded an additional financing facility with the European Investment Bank (EIB).

Scheduled for delivery in 2020, the ship would be the largest cruise ferry in the world in terms of vehicle capacity, according to ICG. The newbuild is expected to provide the group with an effective 50% increase in peak freight capacity.

This additional facility comprises a committed EUR 80 million drawing limit and is available for drawing during July 2018. Repayments are on an amortizing basis over a 12-year term.

The above facility is in addition to the suite of financing agreements announced in December 2017, the company explained.

“This additional facility provided by EIB supports the groups long term infrastructural investment in our fleet which will enhance “the bridge” from Ireland to the UK & Continental Europe,” ICG said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 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

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >