KfW IPEX-Bank finances 2 container vessels of Peene-Werft shipyard / A step to secure employment in a difficult market situation

Frankfurt am Main (ots) - KfW IPEX-Bank GmbH is financing two
1,600 TEU container vessels that are being built by Germany's
Peene-Werft GmbH shipyard in Wolgast for the Turkish Arkas Group. The
relevant agreements were signed last Monday.

The ships being financed are nos. 13 and 14 in a series of
container vessels which Arkas has ordered from the Peene-Werft
shipyard since 2001. KfW IPEX-Bank has already financed a number of
predecessor contracts for its long-time customer Arkas.

The financing for the two vessels covers a volume in the
equivalent of EUR 26.4 million per vessel, a combined total of EUR
52.8 million. It is covered by a Hermes guarantee and, additionally,
tied into the CIRR (Commercial Interest Reference Rate), in which the
risk of interest rate fluctuations is covered by the Federal
Republic. The loans will have a term of 12 years. Delivery of the
vessels is scheduled for July and September 2009.

The buyer of the vessels is the Arkas Group, Izmir, one of
Turkey's leading logistics groups with a history that goes back more
than 100 years. The group operates in the road, seaport and shipping
sector in the Black Sea and Mediterranean Sea region.

The Peene-Werft shipyard has been in existence since 1948 and has
been a member of the Hegemann group of shipyards since 1992. It has
decades of experience in building, repairing and modernising
container vessels and special-purpose ships. In the difficult current
situation of the container vessel market the financing of the two new
buildings represents an important contribution to securing employment
at the shipyard.

About KfW IPEX-Bank GmbH

Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and
corporate financing as well as trade and export financing
domestically and abroad. Worldwide it conducts all market activities
of KfW Bankengruppe that are carried out on commercial terms. KfW
IPEX-Bank GmbH has been operating as a legally independent subsidiary
since 1 January 2008 and contributes significantly to the promotional
mission of KfW Bankengruppe. It has approx. 490 employees (as of
January 2009) and is represented in the key economic and financial
centres throughout the globe.

Originaltext: KfW-IPEX-Bank
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Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: dela.strumpf@kfw.de
Tel.: 069 7431-2984, Fax: 069 7431-9409,
E-Mail: info@kfw-ipex-bank.de, Internet: www.kfw-ipex-bank.de