High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
ATHENS, Dec 4 (Reuters) – Greece’s Alpha Bank raised more than $500 million from a transaction backed by shipping loans, it confirmed on Thursday, one of the first of its kind by a Greek bank since 2008.
Reuters reported in November that Alpha Bank, Greece’s fourth-largest bank, was to raise about $510 million by bundling together shipping loans.
The fundraising, arranged by Citigroup, has a five-year maturity. (Reporting by Angeliki Koutantou. Editing by Jane Merriman)
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