Miclyn Express Offshore Limited (ASX:MIO) has secured a $US23.4 million credit facility with GE Capital.
The agreement will be used to refinance the existing secured credit facilities for Samson Maritime Holding Pty Ltd.
Miclyn’s chief says "GE Capital understands its business priorities and is able to provide financing to support the ongoing growth of Miclyn.”
The group provides a vertically integrated business model through its vessel chartering and shipyard businesses.
Miclyn Express generated a net profit $32.7 million in the first half of the 2012 financial year.
