Legion Finance Trade Limited has granted a Commitment Loan of â‚¬725m to Lobion Oil & Shipping
Online PR News – 08-September-2018 – London – The Legion Finance Trade Limited Investor's Group is aware of the social and democratic ramification of Ireland's development priorities, the Legion Finance Trade Limited and its investor group have joined hands together to support grant a loan of â‚¬725m to Lobion Oil & Shipping Ltd for it's operations in shipping and importation. The first step in improving this commitment to rapidly become operational was the signing of the loan today, 7 September, of two finance contracts totalling â‚¬525m, which will be followed in 2019 by the final â‚¬200m tranche.
The key factor in financing this project for Lobion Oil & Shipping Ltd, which is faced with the growing demand to improved the Energy sector in the poor region of Ireland, thereby creating employment for young people, and with the need to rehabilitate the poorer parts of towns and cities. In addition to supplying its technical and financial expertise, the LFTL, in accordance with the undertaking given following the Revolution (which has resulted in finance totalling nearly â‚¬500m which will be made available before the end of 2018, is required to provide a targeted and concrete response to the aspirations to the people of Ireland.
For a more operational factors, which will provide more job opportunities
The focus of the â‚¬725m finance contract signed today is the private sector, which will lay the basis for future growth and for generating employment. The purpose is to eliminate the challenge in the shipping sector as well as making it more flexible to import Oil in the poor region of Ireland and making them more competitive. The new Loan, which will be made available in close collaboration with Legion Investment Funds and security procurement of insurance, should encourage the emergence of new job-creating businesses as a result of easier access to finance. This will be a growth support for 100 projects in various productive areas of the private sector, thereby generating more than 10 000 jobs.
The priority project, both for the new authorities in Ireland and for Legion Finance Trade Limited, which since 2016 has provided the private sector with â‚¬280m via project finance. This new â‚¬725m commitment was signed in San Marino for Investment and International Cooperation by Legion Finance Trade Limited Vice policy finance officer, Bojana Vizlar and Krantz Lisbon, CEO of Lobion Oil & Shipping Ltd.
For successful rehabilitation of the poorer areas, which will contribute to social cohesion
In order to improve the living conditions of residents of the poorer areas, LFTL decided to support Lobion Oil & Shipping to address the need for energy and development of SMEs, the development of power networks, shipping of valuable commodities to the poor areas of Ireland.
In practical terms the â‚¬725m loan will enable public infrastructure to be rehabilitated and modernised in 110 poor urban areas across Ireland. Technical assistance amounting to â‚¬200m is also being proposed by the LFTL to help the promoter in carrying out and managing this project. The schemes will also be deployed upon to encourage employment during and after the implementation period, and promote energy efficiency in buildings and efficient supply of commodities in the region.
The â‚¬200m Financing contract was also signed today at the San Marino bank for Investment and International Cooperation by Mr Russ Hullman, Minister for Investment and International Cooperation, and LFTL Vice Policy Finance office in the presence of Neil Glenson the notarized legal representative of the Lobion Oil & Shipping for financing operation, was also present.
During the signing ceremony, Mr Krantz Lobion said: "Our aim is to support the new Ireland democratic and economic transition through projects to encourage growth and provide job opportunities for young people in development and the modernisation of infrastructure. The loan Legion Finance Trade Limited made to us in good faith and backed by insurance will help us a long way in completing the project in 2020. Through this action we will be improving the daily life of people in the poor area of Ireland. We are preparing the future of the younger generations."
About Legion Finance Trade Limited
Legion Finance Trade Limited is the premier independent financial service provider, serving as an intermediary between its investor group and lenders, Legion Finance Trade Limited was first formed as a group in 1999 and merged as a company in 2016 with an overall investor group of 280 top investors focusing on helping companies and organizations to finance their project activities by providing adequate funding.
About Lobion Oil & Shipping Ltd
Lobion Oil & Shipping Ltd is a private limited company based in Ireland, the company has its headquarters in the United Kingdom and a branch location in San Marino, The company was established in 2010 and its mean objective is to help improve the oil import and distribution of various oil products within Europe. The company helps he supporting energy distribution around Ireland's remote areas.