Italy’s Red Coral Bulkers has secured financing for the purchase of a supramax bulker.
Watson Farley & Williams advised BPER Banca on a medium to long-term financing of up to approximately $7.7m to Red Coral for the purchase of the 58,000-dwt Archagelos Michael (built 2010), the law firm said in a statement.
In April, TradeWinds reported that Flynn Ventures had sold Archagelos Michael to unidentified Italian buyers for between $13m and $13.85m.
