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KfW IPEX-Bank finances third LNG-powered ship for AIDA Cruises

01 Mar 2019

KfW IPEX-Bank on Wednesday (27 February) said it is structuring financing for another cruise ship for AIDA Cruises, which is powered by liquefied natural gas (LNG). 

Borrower is the parent company of AIDA Cruises, Carnival Corporation & plc. The financing is provided by Euler Hermes' export credit insurance and is provided using the OECD Commercial Interest Reference Rate (CIRR).

KfW IPEX-Bank has taken over the structuring of the overall financing for AIDA Cruises and will, in cooperation with Carnival Corporation & plc, syndicate a significant part of the loan amount to an international banking syndicate after conclusion of the contract.

“As one of the leading ship financiers, we underscore our commitment to finance ships that are equipped with modern climate-friendly propulsion systems,” said Andreas Ufer, Managing Director of KfW IPEX-Bank on the occasion of the contract signing. 

“The many years of successful cooperation with our business partners AIDA Cruises and Meyer Werft will be raised to a new trend-setting level with the Green Cruising concept.”

The vessel, the second sister ship for the world's first LNG-powered cruise liner AIDAnova, will be built by Meyer Werft in Papenburg.

Like its two sister ships, the new AIDA with 183,900 gt at a length of 337m and a width of 42m will provide space for around 2,500 cabins, 15 restaurants and 23 bars on a total of 20 decks. The delivery is scheduled for 2023.

Photo credit: AIDA Cruises
Published: 1 March, 2019

 

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