Funding for the management buy-out operation and for the purchase of two product tankers
The banking institution ING has completed two financial operations in support of the Italian shipping company Premuda. The first involves a $65 million loan to support Pillarstone and the management in the recent buyout, where ING acted as the sole financier (May 5, 2025). ING highlighted that the operation features a unique structure in the Italian shipping landscape, with the bank’s loan being guaranteed exclusively on the shares of the target company, demonstrating confidence in the value of the operation and in the client’s industrial vision. To complete this process, a $40 million Sustainability Linked Loan (SLL) for the acquisition of the eco-design product tankers PS Singapore and PS Sydney was also recently finalized. The financing is linked to Premuda’s fleet decarbonization strategy.
“With these two operations – emphasized Andrea Diamanti, head of Wholesale Banking at ING Italy – we confirm the solidity of the development plan for the Wholesale Banking division in Italy. Our goal is to strengthen ING’s role as a point of reference in corporate investment banking in the country. Supporting medium-to-large-sized companies also happens through our international network, which in this case saw effective collaboration between the teams based in Italy and the United Kingdom.
