Oceanco

Refinancing of a shipyard and the financing of additional capex

In August 2023, Avaxa was engaged by Oceanco, a world-class builder of custom superyachts in the 80–140 meters range. Its internationally active client base consists of ultra-high net worth individuals.
Oceanco acquired the Zwijndrecht shipyard in 2019 to be able to work on several ships simultaneously. Oceanco wished to refinance the loan ahead of expiry and was looking for a long-term financing partner which supports its future plans for the site.
Avaxa prepared an information package including detailed bank presentation and Request for Proposal.
Following a competitive process, a specialized real estate lender was selected to provide the refinancing. Not only was the currently outstanding debt refinanced, but in addition the new lender will facilitate several additional investments (partly sustainability driven) in the site in Zwijndrecht.
The transaction closed in June 2024.