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Citi leads PVTrans oil tanker purchase

26 November 2008

Purchase is in line with borrower's plans to further develop its fleet to meet the needs of Vietnam's refineries and storage requirements.

Read more: Citi PVTrans vietnam petrochemicals oil crude nexi japan

PetroVietnam Transportation Corporation (PVTrans) has signed a $178 million term loan facility agreement with a group of banks led by Citi. Other lenders include Calyon Corporate & Investment Banking, Fortis Bank, and Societe Generale. Citi is the lead coordinator.

The proceeds will be used for financing the purchase of three crude oil vessels with capacity between 80,000 metric tons of deadweight...

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