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| Published：2021.03.06 News Sources：Qingdao Gute Ship Supplies Co., Ltd. Views： | |||
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Viking Cruises plans to buy a cruise ship for $400 million to leaseback
The Viking Sun is a small cruise ship built by Italian shipbuilding group Fincantieri and delivered in September 2017. It has a length of 228.2 meters, a width of 28.8 meters, a draft of 6.45 meters, a gross tonnage of 47,842 tons and a 1C ice class designation, according to Ship.com International. The ship has 465 cabins and can accommodate 930 passengers, with a total capacity of more than 1,400 including crew. VSL signed a financial leasing agreement with China Merchants Financial Leasing Co., Ltd. (" Hai32 "), a wholly-owned subsidiary of China Merchants Financial Leasing Co., Ltd., for the Viking Sun in 2017. As of the announcement date, the ownership of the ship is owned by Hai32. Upon completion of the transaction consideration payment by Merchants Virgin Cruises, the ownership of the vessel will be transferred from SEA 32 to VSL and then from VSL to Merchants Virgin Cruises immediately. The consideration paid for this transaction is 10% of its own capital and 90% of its finance lease. In this transaction, Tianjin Merchants Bank Leasing Co., Ltd. (" Tianjin 62 "), a wholly-owned subsidiary of China Merchants Bank Leasing Co., Ltd. (" Tianjin 62 "), will provide related financing leasing services for Merchants Virgin Cruises. According to the financing lease agreement, the investment the Viking ship, the lessee, the mortgagor (the seller) to sell their own ship to tianjin 62 (the buyer, the lessor, the mortgagee) and financing lease, the total amount of financing for the ship 90% of the sum of the market price and import tax on (about $427.14 million equivalent in RMB), the arrangement fee is 1.2% of the total funds. Of the day for the ship the delivery date of the transaction, lease term amounted to 144 months, rental rate is in the interest rate adjust, recently released a quote day (the day) has published a five-year loan market price is above rates (LPR), first adjust interest rates as of the day, each subsequent interest rates adjust for previous rent pay day, quotation is issued by the People's Bank of China authorized the national interbank funding center announced the date of the loan market interest rates (LPR) quotation, namely 20 per month (holiday postpone). The hire shall be calculated on a daily basis, the hire shall be collected on a quarterly basis, and the retained purchase price of the Vessel shall be 40% of the sum of 90% of the RMB equivalent to US $400 million at the applicable exchange rate (the "First Installment Financing") and 90% of the Vessel Import Tax (the "Remaining Financing"). After the deal is completed, Viking Sun will become the first domestic cruise ship to fly the five-star red flag and operate China's coastal and offshore routes. Merchants the Viking ship high-end cruise ships, formed by the liner plate will accelerate to achieve company "ship, port and city, shopping, entertainment," the integration of operations, drive tax-free business by cruise ships, cruise cruise facilities, such as supplies business innovation and development, build a set of tourism real estate, home port economy, cruise industry in the integration of high-end tourism ecosystem service, will further boost company "before Hong Kong - central - after city" integrated development model of the ground. |
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