Wilh Wilhelmsen Holdings said it has fixed a new credit agreement for its services unit that will add $640m in new liquidity.
Wilhelmsen Maritime Services said it entered the new five-year credit agreement in "club deal." The new facility replaces its existing facilities.
The new credit facility will likely help fund the Thomas Wilhelmsen-led company's $400m acquisition of Drew Marine, which is expected to contribute $150m in operating profit to the maritime services unit.
