TJ Heggeli & Co

Cross Border Investment Banking

Sale-Lease-Back of Panamax Vessels
owned by Pan Gulf Group, London

Client Pan Gulf Group, London. Ship-owner and owner of one of the worlds largest ship management companies
Mission Find refinance structure for Panamax vessels 'Endeavour' and 'Oceanic Explorer', which was financed by a bond structure arranged by Chase Manhattan Bank.
Solution Heggeli arranged in co-operation with KS arrangers (limited partnership arrangers) Fearnley Finans AS in Oslo, a seven year sale-lease-back of 'Endeavour' and 'Oceanic Explorer'. About ten investors participated in the Norwegian KS structure, and mortgage financing was provided by Nordea Bank. Pan Gulf used the proceeds from the sale to pay back the bond holders.


Pan Gulf Group

During three decades, since its foundation in 1978, Pan Gulf Group worked hard to build a high reputation which will enable it to reach a goal of establishing a number of business lines.

Today, Pan Gulf as a holding is a company that strategically diversified into independent subsidiaries and operating affiliate companies, employing professional staff throughout the Middle East. Pan Gulf’s creativity and innovation in developing and taking new products to market is only the beginning.

Pan Gulf knows that its customers need more than just brilliant ideas to succeed. In a constantly changing global economy they also need outstanding service and support to grow and prosper. Pan Gulf aims to win recognition, wherever we operate, for our capacity to develop our business, for the quality of our management, and for our dedication to combining business performance with progress for people.

We insist on absolute integrity and honesty in everything we do because we find this to be the essence of success. For that, we demand ourselves and each other the highest standards of individual and corporate integrity both financially and professionally.

Track record