JBIC Approves Financing of Berge Bulk’s Newbuildings

first_imgjbic, March 25, 2014 zoom The Japan Bank for International Cooperation (JBIC) and Berge Bulk have signed buyer’s credit agreements for funding the purchase of new bulk carriers.The loans will be co-financed by the Bank of Tokyo Mitsubishi UFJ. Nippon Export and Investment Insurance (NEXI) will provide buyer’s credit insurance for the portion co-financed by the private financial institution.With the loan, Berge Bulk will be able to buy six 34,000 DWT bulk carriers, currently being built by Namura Shipbuilding Co., Ltd.JBIC, in partnership with the Shipbuilders’ Association of Japan, will continue to support the export of Japanese-built ships that perform a significant role in the regional economy and associated industries.last_img read more

Budweiser brewer sells Australian unit to pay off debt

BRUSSELS — AB Inbev, the world’s biggest brewer with brands like Budweiser and Corona, is selling its unit in Australia to reduce debt after it decided against listing shares in Asia.The company said Friday it is selling Carlton & United Breweries for $16 billion AUD ($11.3 billion) to Japanese rival Asahi Group.AB Inbev, which is based in Belgium, said it will use almost all the money from the deal to pay down debt. The company has accrued high debt after going on an acquisition spree, including buying Anheuser-Busch in 2008 and its next closest rival, SABMiller, in 2015.The company had planned to list some shares on the Hong Kong Stock Exchange but said this month it no longer plans to do so due to tough market conditions.The Associated Press read more