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DVB successfully arranged and co-underwrote (together with HSH-Nordbank) a US$183 million senior secured debt facility assisting the Palmali Group in the refinancing of one Suezmax and in the acquisition of two Aframaxes. The transaction allowed Palmali Group to establish a significant presence in the marketplace as owners and operators of crude oil tankers, adding a new leg of core business to an already existing and successful product tanker operation.

The facility reflects DVB's commitment and understanding of the crude oil tanker business, and our support towards well-structured newcomers to this market segment. The transaction was closed during a very difficult and volatile period for bank debt financing, requiring tailor-made solutions to meet specific requirements of each of the underwriters. This emphasizes DVB's reputation as a stable and constructive partner, working together with other banks and bringing added value to our clients.