NRP’s Premium Maritime Credit Fund has provided debt financing for a cruise ship purchase.
The Oslo-based fund has given a $6.9m first-lien facility to an undisclosed US shipowner, NRP Maritime Asset Management said in a post on LinkedIn.
The financing marks an “important milestone” for the company “as it taps into the market with their first vessel of what hopefully will become a fleet over the years,” according to the post.
“The firm has made all the right moves as they have managed to lock in impressive post-launch bookings,” NRP said.
Law firm Wikborg Rein advised NRP in the transaction.
In February, Premium Maritime Credit Fund financed the acquisition of a 33,000-dwt handysize dry bulk vessel.
It then gave a bilateral senior secured first priority loan facility of $6m to an undisclosed European shipowner.
The fund started in 2022 and has $113m in committed capital. It gives loans of $3m to $15m with a loan to value of 30% to 65%. It has no limit on vessel age.
Nicolai Heidenreich and Wilhelm Magelssen manage the fund.
The managers seek to finance midsize vessels with high liquidity and standard design, according to its website.
It earlier financed a 2011-built handysize bulker, a 2003-built multipurpose vessel and a 2007-built general cargo ship.
