NOVEMBER 19, 2013 — AIG Commercial Asset Finance (AIGCAF) and its affiliates have provided a $400 million loan for vessels owned and operated by Nautical Solutions, LLC, which is an operating unit of Edison Chouest Offshore.
Proceeds from the loan were used to refinance existing notes and to provide for the construction of new vessels.
Charlie Comeaux, CFO of Chouest, said "Chouest is proud to be doing business with AIG and their entire team. They are among the
best in the industry, having deep experience in marine finance. We plan to do more financial transactions with AIG."
Kirk Phillips, Senior Vice President of the Direct Finance Group at AIGCAF, said that due to AIG's extensive experience in offshore marine and energy lending, AIGCAF was able to creatively and quickly meet Nautical Solutions' needs.
AIGCAF says the transaction builds on the partnership forged between itself and Chouest, one of the world's leading offshore service providers.