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fnWEB - Bangkok - June 18, 2003 - Krung Thai Bank has agreed to provide some $100 million in credit to Thai shipping line, Precious Shipping plc, as part of efforts to refinance debts and the purchase of new vessels.
In a statement to the Stock Exchange of Thailand (SET) Precious Shipping said the credit was for seven-and-a-half years as well as one-year grace period, based on quarterly repayments.
Precious' assets - which include 27 vessels - form the basis of the guarantees for the loans. The statement said that from the total amount of …