Premuda secures $100m from ING for fleet growth and management buyout

Premuda, the Italian shipping company founded in 1907, has secured over $100m financial support for fleet growth and management buy-out. ING Italia has publicized the completion of two important financial transactions in support of Premuda.

After the first transaction, concerning $65m facility to support the recently announced management buy-out, a $40m sustainability linked loan (SLL) was also recently finalized for the refinancing and the full acquisition of the product tankers eco-design PS Singapore and PS Sydney (both already under management).

Earlier this year, the management team of Premuda announced the successful completion of a management buy-out for 100% of the company’s entire share capital. The transaction was made possible thanks to the significant strategic and financial support of Pillarstone, which remains a co-shareholder alongside the management,