Frankfurt lender DVB Bank has completed a syndicated $175m refinancing of leading European bulker owner Polish Steamship (Polsteam Group).
The German bank acted as mandated lead arranger and bookrunner for the 34-ship deal.
CIT Group was also a lead arranger, with Societe Generale, BNP Paribas, Siemens Bank and Credit Agricole as co-arrangers.
Polsteam employs more than 2,700 people worldwide, performing around 500 trips per year and transporting 15m tonnes of goods.
