Awilco LNG ASA has announced that a term sheet for the refinancing of the company’s two 2013-built 156 000 m3 TFDE LNG carriers, WilForce and WilPride, has been agreed and signed with a major leasing company based in Asia.
The refinancing is structured as a sale/leaseback similar to the current financing of the vessels and enables a full take out of the sale/leaseback facilities maturing 31 December 2019 at favourable terms.
The facility is expected to close in 4Q19 subject to final credit approval, documentation and customary closing conditions.