CP SHIPS COMPLETES $350-MILLION LOAN FACILITY
CP Ships, the London-headquartered container shipping group, has closed on the remaining $100 million of a $350-million secured, five-year revolving credit facility announced last December.
The credit facility’s lead arranger, Citibank NA, has placed the $100 million with five major banks, CP Ships said.
“The facility will be used primarily to finance CP Ships’ previously announced $800-million ship investment program,” CP Ships said.