BayernLB

Smooth sailing thanks to top financing

Bayern LB co-finances construction of luxury cruise ships by Meyer Werft for the second time.

BayernLB has had a close business relationship with Meyer Werft GmbH & Co.KG since 1997. Now under the seventh generation of family management, it has been building ships of all types for over 220 years. With its two covered building docks, the shipyard has the most modern ship assembly facilities in the ship building world today and is one of the three global leaders in this sector. One of the Papenburg-based company’s current projects is the construction of two new Quantum-class cruise ships for Royal Caribbean Cruises Ltd. of Miami, Florida. On board as financing partner: BayernLB.

The EUR 135m financing representing 80% of the delivery value of the two cruise ships is 95% backed by the Euler Hermes ECA. The two ships are scheduled for delivery in 2019 and 2020. All in all, a good example of a trusting relationship with an excellent family-owned German company operating in international markets.