Financing in favour of T Mariotti shipyard in Genoa

The IMI Corporate & Investment Banking Division acted as Global Coordinator and Sole Bookrunner in the organization and syndication of a pool loan in favour of T Mariotti, a historic Genoese shipyard, customer of the Banca dei Territori Division.  Intesa Sanpaolo also acted as Facility Agent and Issuing Bank for the issuance of guarantees relating to the transaction.

Founded in 1928, T Mariotti is a leader in the construction of extra luxury cruise ships, mega yachts and supply vessels.  Since 2008 it has been part of the Genova Industrie Navali group, established together with San Giorgio del Porto, another historic Genoese shipyard.

The transaction is intended to support the construction of an ultra-luxury cruise ship commissioned by Neptune Co., an equal-share joint venture belonging to the Saudi Sovereign Wealth Fund PIF-Public Investment Fund (Red Sea Cruise Company and the Swiss group Aman (Moto Investco LTD), an operator specialized in ultra-luxury hotel accommodation and is one of the numerous projects supported by the PIF Fund aimed at the development of the Arabian Peninsula.

 The ship will have a length of 180 meters, approximately 23,000 gross tons, 47 suites divided into four types and will accommodate up to a maximum of 175 passengers.

With this transaction, Intesa Sanpaolo confirms its partnership with T Mariotti for the second time in the implementation of a project of great importance for the city of Genoa.  Recently, in fact, the company delivered to Seabourn Cruise Line (Carnival Group) the two cruise ships whose construction had previously been financed by our Group.