Ship Finance to use $77 million senior loan for purchase of two vessels

By Sara Rosenberg

New York, Nov. 7 - Ship Finance International Ltd. is planning on using an about $77 million senior loan facility to help fund its acquisition of two offshore supply vessels from Deep Sea Supply plc, according to a news release.

The total delivered price for the vessels is $126 million. Deep Sea will provide a non-interest bearing seller's credit of $22 million, giving a net investment by Ship Finance of $104 million.

Other acquisition financing will come from an equity contribution of about $27 million.

Ship Finance is a Hamilton, Bermuda-based ship owning company.

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