Taylor Maritime Investments (TMI) has returned to trusted lenders for a big new loan to push through its takeover of Grindrod Shipping Holdings.
UK law firm Watson Farley & Williams (WFW) said it had advised Nordea Bank as part of a deal to provide term facilities of up to $208.3m from the Finnish lender and Sweden’s SEB.
Security includes accounts held in Germany and South Africa in relation to Grindrod shares listed on the Nasdaq and the Johannesburg Stock Exchange, as well as nine Marshall Islands-flag handysizes, WFW added.
