KfW IPEX-Bank financing a second cruise ship for Star Cruises / Genting Hong Kong Ltd. at Meyer Werft shipyard in Papenburg

Frankfurt am Main (ots) -

- The bank is now financing two ships for the growing Asian market
- Support for exporters and for Germany as a shipbuilding location

With a loan of over EUR 600 million, KfW IPEX-Bank is financing
the construction of a second cruise ship for Star Cruises, the
leading cruise line in Asia Pacific, at Meyer Werft shipyard in
Papenburg, Germany. The signing ceremony of the corresponding
contracts was held in Hong Kong today. This second new vessel is
scheduled for delivery during the fourth quarter of 2017. KfW
IPEX-Bank closed the financing for Star Cruises' first new vessel (a
sister ship) in April this year.

KfW IPEX-Bank has taken on the structuring of the overall
financing and is providing the entire loan amount together with
Crédit Agricole Corporate and Investment Bank and the Singapore
branch of DNB Bank ASA. The financing is backed by export credit
insurance provided by Germany (Euler Hermes cover) and encompasses
the Commercial Interest Reference Rate (CIRR) for ships, which is set
by the OECD.

"We are pleased that we are able to provide financing for a second
cruise ship and thereby further cement our long-standing
collaboration with our valued business partners, Meyer Werft shipyard
and Star Cruises," said Christian K. Murach, the responsible member
of the Management Board at KfW IPEX-Bank. "As one of the world's
leading players in ship financing, this enables us to strengthen our
position on the market and support German exporters and northern
Germany as a shipbuilding location at the same time."

Just like its sister ship, this second new vessel boasts a gross
tonnage of about 150,000. With more than 1,600 passenger cabins and a
length of approximately 330 metres, both of Star Cruises' two new
cruise ships will be among the biggest of their kind in Asia. Adding
this second new vessel, Star Cruises is expanding its fleet to nine
ships, thus catering to the growing demand for cruise holidays in the
Asian market.

Together with its associate Norwegian Cruise Line, Star Cruises is
the third largest cruise operator in the world. Star Cruises is
wholly-owned by Genting Hong Kong Limited, a company active in the
leisure, tourism and entertainment industries and whose shares are
listed on both the Hong Kong Stock Exchange and the Singapore Stock
Exchange.

The Meyer Werft shipyard has a long history that dates back more
than 200 years and is now owned by the seventh generation of the
Meyer family. It builds state-of-the-art cruise ships, among other
commissions, for shipping companies from all over the globe and is
the most important employer in the Papenburg region.

About KfW IPEX-Bank GmbH

Within the KfW Group, KfW IPEX-Bank is responsible for
international project and export finance. Its function of providing
financing to boost the German and European economy is derived from
the legal mandate assigned to KfW. It offers medium- and long-term
financing to support key export industries, to develop economic and
social infrastructure and to fund environmental and climate
protection projects. KfW IPEX-Bank operates as a legally independent
group subsidiary and plays a major role in fulfilling KfW's
promotional mission. It is represented in the most important economic
and financial centres across the globe.

A picture of the signing ceremony is available on the homepage of
KfW IPEX-Bank in the press section under "press material".

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