Current Funds

Dongbuka

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Dongbuka No.15 Ship Investment Company

Name
Dongbuka No.15 Ship Investment Company
Classification
Paper company in possession of one vessel
Establishment
20th May, 2005
Promoter
Korea Marine Finance Corporation
Public Offering
6th and 7th July, 2005
Underwriter
Hyundai Securities(949,529 shares), Tong Yang Investment Bank(949,528 shares)

*(SK Securities is the subscription consignee, co-allocated with KOMARF)

Duration
Approx. 8 years (First reimbursement on Sept. 17th, 2010 the 21st settlement date from ship delivery. A total of 12 reimbursement dates every quarter from this point on.)

* Early settlement possible by selling ship

* Asset subrogation from POS Ship Management to Dongbuka No.15 secured at the end of the investment period(8 years)

Target Asset
1,550TEU container ship(Kanasashi Shipyard, built in 1991)
Acquisition Price
$33,700,000
Structure
  • 1. Debt: Dongbuka No.15 (27.95% of ship cost- $9,420,000)
  • 2. Equity: Korea Development Bank (65.0%- $21,900,000)
  • 3. Guarantee Deposit: POS Ship Management (10.0%- $3,370,000)
Earning Rate
Annual 5.90% fixed dividends (Interest type, Dividends paid off every quarter)
Realization
Korea Exchange listed
Ship management
POS Ship Management(->STX Pan Ocean charter, 5 years TC agreement)
Consignment Agreement
  • 1. Ship Investment Management Company: KOMARF
  • 2. Custody Company : Korea Development Bank