SSN shipyard may receive USD 200m of credit

APA - Austria Presse Agentur
15-03-2006, 16:18

Warsaw (Puls Biznesu) – Stocznia Szczecinska Nowa (SSN) shipyard holds talks with Citibank, Pekao and Nord LB to get a commercial credit of USD 200m.

Warsaw (Puls Biznesu) – Stocznia Szczecinska Nowa (SSN) shipyard holds talks with Citibank, Pekao and Nord LB to get a commercial credit of USD 200m.

State guarantees for the Polish shipyards to build ships expire at the end of this year. Since 2007, the shipyards have to find commercial sourced for their production. SSN is getting ready.

“We are negotiating a commercial credit with banks”, Andrzej Stachura, SSN CEO said.

Talks concern a credit of USD 150-200m and is talking to Citibank, Pekao and Nord LB. It would be the company’s second commercial credit. The first one was USD 40m it received in fall 2005. The shipyard needs USD 350m altogether and may receive the rest as advance payments from its clients.

 

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Podpis: APA - Austria Presse Agentur

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