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Displaying items by tag: Debt Facility

Shipyard Harland and Wolff in Belfast Harbour has secured a £2m (€2.35m) asset backed term debt facility.

Funds raised writes Independent.ie, will be used for working capital purposes, according to a statement from InfraStrata, the company which agreed to buy the Belfast shipyard last year.

The facility is for a period of two years, with the main amount repayable as a lump sum payment at the end of the period.

The loan carries a coupon of 13.2pc per year, payable in equal monthly instalments.

As previously reported on Afloat last week InfraStrata is behind a gas storage project in Larne Lough. 

For more click here on this financial development at the yard.

Published in Belfast Lough

THE RORC:

  • Established in 1925, The Royal Ocean Racing Club (RORC) became famous for the biennial Fastnet Race and the international team event, the Admiral's Cup. It organises an annual series of domestic offshore races from its base in Cowes as well as inshore regattas including the RORC Easter Challenge and the IRC European Championship (includes the Commodores' Cup) in the Solent
  • The RORC works with other yacht clubs to promote their offshore races and provides marketing and organisational support. The RORC Caribbean 600, based in Antigua and the first offshore race in the Caribbean, has been an instant success. The 10th edition took place in February 2018. The RORC extended its organisational expertise by creating the RORC Transatlantic Race from Lanzarote to Grenada, the first of which was in November 2014
  • The club is based in St James' Place, London, but after a merger with The Royal Corinthian Yacht Club in Cowes now boasts a superb clubhouse facility at the entrance to Cowes Harbour and a membership of over 4,000