Ireland's sailing, boating & maritime magazine

Displaying items by tag: Debt Facility

10th February 2020

Shipyard Harland and Wolff Secures £2m 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

Tagged under

William M Nixon has been writing about sailing in Ireland and internationally for many years, with his work appearing in leading sailing publications on both sides of the Atlantic. He has been a regular sailing columnist for four decades with national newspapers in Dublin, and has had several sailing books published in Ireland, the UK, and the US. An active sailor, he has owned a number of boats ranging from a Mirror dinghy to a Contessa 35 cruiser-racer, and has been directly involved in building and campaigning two offshore racers. His cruising experience ranges from Iceland to Spain as well as the Caribbean and the Mediterranean, and he has raced three times in both the Fastnet and Round Ireland Races, in addition to sailing on two round Ireland records. A member for ten years of the Council of the Irish Yachting Association (now the Irish Sailing Association), he has been writing for, and at times editing, Ireland's national sailing magazine since its earliest version more than forty years ago