Aker Philadelphia Shipyard Secures Funding From Caterpillar

Aker Philadelphia Shipyard Inc. entered a loan accord with Caterpillar Financial Services Corp. for a construction loan facility and contingent floorplan loan facility totaling $80 million.

Caterpillar will fund as much as $40 million per ship toward the construction cost of two product tankers being built for the shipyard’s own account.

To contact the editor responsible for this story: Meera Bhatia at mbhatia2@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.