Investec Shipping and Marine Finance has been mandated by RKOffshore International, a specialised marine services company with a proven track record in the offshore oil and gas sector, to arrange a USD180m club deal that will finance an 18 strong fleet of offshore support vessels. The team has started to significantly increase its activity in the financing arena having recently completed a USD100m transaction that funds five accommodation barges for AOS Cyprus Holding Limited, and has other deals in the pipeline. As a new entrant to the market, Investec is now establishing itself as an important player in financing offshore assets. The bank plans to grow its own portfolio considerably in the near term via a series of bilateral and club deals in which it acts as facility arranger.
Investec’s front office team boasts over 75 years of combined experience in structured asset finance and shipping transactions. Led by Jeremy Dean, the team includes Patrick Caron-Delion, (formerly of Allco and Lloyds Bank), Claudio Chisté (also chairman of SPNL London) and Investec veteran Denise Bands.
Investec Shipping and Marine Finance has the capability to structure and deliver a wide variety of financing solutions. These include debt products, derivatives, bonds and equity. Transactions have been completed in both loan and bond format, and include a significant ECA transaction in which Investec acted as facility arranger. Most activity is focused upon the offshore service sector, although the bank does also support clients in the gas and other niche segments. Superyacht finance is another interesting business line where Investec Shipping and Marine Finance works in conjunction with Investec Private Bank and Investec Wealth.
Jeremy Dean, Head of Shipping and Marine Finance commented:
“We are delighted with our recent successes. We’ve been able to deploy the considerable breadth of product capability within the Investec group in supporting clients. All of our achievements are founded upon the hard work of the team and an absolute focus upon servicing the needs of our clients.”