Acquisition of Four (4) Marine Vessels

[NIGERIA]

In July 2007, Nationwide successfully raised capital of over $9,600,000 for a Nigerian customer on behalf of ECO Bank and Access Bank of Nigeria for the acquisition of four marine vessels. The parent company, Nationwide Equipment, not only supplied quality ships, but also coordinated the entire logistical operation to direct sail two 185-foot anchor handling offshore supply vessels, crew boat and a 3,000-hp, 135-foot anchor handling tugboat. This was a challenge, as Nationwide Equipment had to coordinate trans-Atlantic logistics and coordinate marine captains and crews to safely journey across the Atlantic Ocean during hurricane season. Nationwide accepted customer’s deferred payment terms by Local Bank Guarantee.

Financing: Arranged by Nationwide Finance which successfully raised required offshore capital on behalf of ECO Bank and Access Bank of Nigeria.

Dollar Amount: $9,600,000 (millions)

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