Shipyard Harland and Wolff Secures £2m Debt Facility

10th February 2020

The iconic Harland and Wolff cranes Credit: Belfast Harbour -facebook

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

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Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals.

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