United Arab Shipping Company (UASC) has made its debut in the debt capital market with a finance deal for two modern containerships.
The Middle East owner said a US-based trust has issued $162m of Enhanced Maritime Trust Certificates (EMTC).
Besides US investors, the issuance attracted interest from Europe as well, UASC added.
Samir Sharma, vice president of project finance at UASC, said: “This award winning transaction is a landmark and precedent setting financing for UASC, marking its debut in the debt capital market and it creates a replicable model for future financings.
“We
