French Shipper Inks $1.5B Sale Leaseback With Chinese Bank

Law360, New York (April 9, 2013, 8:41 PM EDT) -- French shipping company Bourbon SA has completed a $1.5 billion sale leaseback deal with a Chinese lender for 51 of its supply vessels, the first step in a $2.5 billion charter plan, Bourbon said Tuesday.

The French firm said it signed the sale leaseback deal with ICBC Financial Leasing Co. Ltd., a unit of the Industrial and Commercial Bank of China, on Tuesday. The terms of the deal call for Bourbon to sell the ships to ICBC and lease them back at a fixed rate for...
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