The European Investment Bank (EIB) and UniCredit Corporate Banking have signed a Eur 81 million (US$115.5 million) loan agreement with Italy’s Atlantica di Navigazione (Grimaldi Group) aimed at expanding its fleet for the motorways of the sea in the Mediterranean.
The loan will be advanced through UniCredit Corporate Banking as part of a total credit line of Eur 250 million (US$356.58 million) made available by the EIB to the Grimaldi Group. This credit line, with a term of 15 years, will be deployed to co-finance four cruise ferry vessels, ordered by Grimaldi from Fincantieri, with an approximate total value of Eur 600 million (US$855.78 million). The first tranche of Eur 81 million (US$115.53 million) will fund the acquisition of the ‘Cruise Barcelona’, which will begin serving the Civitavecchia–Barcelona route in mid-September 2008. The cruise ferry vessels built for Grimaldi are the largest freight / passenger ships ever used in the Mediterranean. They will be able to carry 2,140 passengers and 3,600 lane metres of vehicles (187 trailers and 215 cars).
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