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EXIM Thailand Provided USD 110 Million Refinancing Loan for Mermaid to Grow Subsea Engineering Business

Back Jul 11, 2011

M.L. Chanchutha Chandratat, President and CEO of Thoresen Thai Agencies Public Company Limited (TTA) revealed that Mermaid Maritimes PLC, one of its key subsidiaries, recently signed a 10-year loan agreement worth USD 110 million or THB 3,300 equivalent with Export-Import Bank of Thailand (EXIM Thailand). Mermaid will use the new facilities to refinance its existing loan of 2 vessels namely M.V. Mermaid Endurer and M.V. Mermaid Asiana. Mermaid expects to strengthen and grow its subsea engineering business while keeping the financial cost low.


Photo shows (from left) TTA's management led by Mrs. Thitima Rungkwansiriroj, Executive Vice President - Finance and Accounting and M.L. Chandchutha Chandratat, President and CEO of Thoresen Thai Agencies Plc., together with Export-Import Bank of Thailand management led by Mr. Kanit Sukonthaman, President, Mr. Kematat Saicheur, First Vice President- Business Promotion Department 1 and Ms. Atchanoma Porntharuckcharoen, Vice President - Business Promotion Department 1 at the signing ceremony of USD 110 million 10-year loan agreement.