NOL: finalized and completed the loan agreements and financing documentation for 14 containerships. With the US$1.1b loan, all of their 2007 (8 x 10k TEU containerships) and 2010 (10 x 8.4k TEU and 2 x 10.7k TEU containerships) new orders have been financed. They do not expect to draw on any of the loan facilities in 2011.
Stock currently trades at 6.9X P/E. Street ratings are fairly mixed, TP$1.35 - $2.40.
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